The Paramount at any given time frame needs to be evaluated on its own merit and a blanket statement shouldn't be given. The Paramount has always been a great high end bike. I started riding in the mid 50's and always lusted after the paramounts but it was just a little too expensive. I bought my first bike an Allegro Special, followed by many bikes. In 1969 I looked at the market and came up with Masi, Cinelli, and Paramount as the top 3 choices at the time (this puts the Paramount in the elite class of bikes). I went with Cinelli and still have it today along with 6 other bikes. In 1990 I bought a Waterford Paramount. It wasn't overrated...infact when I rode group rides in the late 90's people would "oh and ah" my lugged candyapple red paramount. Record equiped and SLX Columbus tubing it was light as any bike for the times. Paramount also wasn't ever a "mass" produced bike in its good years in the normal sense of the word. So no it isn't over rated. Today I ride a TiCarbon and a Columbus Foco tubing ultralight wonders and enjoy them...but I also ride my classic steel bikes as well all between 3k and 5k per year (down considerably from my younger days). I enjoy a quality bike no matter what era it is from. The old steel bikes had soul and still garner looks and comments from the nouveau crowd who ride the plastic fantastics and SR-71 metallic wonders.