("In what way are the Dead over rated? "
Probably not really, at least in terms of studio recordings.
I've just never been a fan of their live performances for the most part. Reckoning is good though. Saw them live once in 1981 after looking forward to it quite a bt, it was a huge disappointment and I was bored to death actually. It was a free concert though, so maybe we got what we payed for.)
I have been one who always felt their live concert far exceed their albums......but then again I enjoy jazz, bluegrass, blues, Americanna and improvising......I can understand one being bored with drums and space, since at times they were less than attention grabbing for me, too.
Get "One from the Vault" on vinyl......it sounds great and offers the listener a good idea of what it was all about on a good night.
On a bad night......the hype of a live show was over-rated....but there never has been a band that toured as much as the Dead. Sure they had some "less than", tours, years or shows......but an off night of the Dead beats an on night of work anytime!!!!! And, for that matter.....most live concerts in general.