The man has and probably never will play at a All-Star caliber level on a consistent basis. I feel its pretty much impossible to call him overrated when he has barely scratched the surface of displaying his incredible talent.
The reality of it is he didn't start to raise his level of play until he became a 3rd option and the pressure of putting up big numbers diminished. I as a Laker fan have just become accustom to the fact that some nights he can be the best player on the floor and other nights you forgot he even played.
That being said he has truly risen his level of play this post season, but when you watch him perform you know he is capable of so much more and thats the frustrating part. I believe that his best basketball is yet to come and starting next season he may actually be a 4th option with almost no pressure and these are the type of situations when he thrives.