I personally think that the Star Wars MMORPG: SWTOR doesn’t get that much attention. At least, not from what I’ve heard of it. Not only is it a technical sequel to the famous Knights of the Old Republic games, but it’s also practically WoW mixed with Star Wars.
I also thought that the game Gigantic (which is now dead and shut down) was completely under looked at its time. Sure, it needed improvement, but it gave you a sense of scale and it had some really fun characters.
[spoiler]Fades Away[/spoiler]
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I guess Final Fantasy IX. It's not [i] really[/i] underrated, I guess. If you were to ever bring it up in a conversation, the game's merit would obviously show. But I feel like it gets skipped over a lot because it's the little brother of Final Fantasy VII.