I think VII is both overrated and underrated. There are those who play FFVII and on who think it's THE Final Fantasy and yadda yadda. Those people overrate it. But then there are the people who feel the need to whine about the first group (which, if you notice, barely anybody anymore is a complete gibberish-speaking FFVII fanboy. Most have moved on to Guitar Hero or Halo or Madden or whatnot) who say it's the WORST game in the world. It's not.

That is to say, if it's your favorite FF, and you have reasoning behind it (aside from LOL WOW TEH SEPHIRTOAST!!!) then your opinion is valid and respectable. If it's your least favorite (aside from WTF, FANBOIS RAAAHHHH NERDRAGE!!!) then your opinion is valid and respectable.

My opinion of FFVII? I like it. It's a good game, I like the characters, the setting. I even like the art style (FFIX has a cartoony art style? HA!) but it's not the end-all be-all game.