Why are you even trying to argue this? It may certainly be arguable that Vader is not the most powerful Jedi/Sith ever. Of course he was surpassed by Luke, and Yoda may have been more powerful in his prime. In the plethora of Star Wars literature that I haven't read, I'm sure there have been characters that seem more powerful, but because of games like The Force Unleashed, the Force has been perverted into a fireworks display: "well this character brought down a Star Destroyer with the force so he must be more powerful than Vader".
I don't think there's any doubt that, at least in the original trilogy (which imo should never be contradicted) and the prequel movies, Vader was always intended to be one of the most powerful Force users ever to have lived. Therefore, the answer to your question is "No", he is not overrated.