I don't think its underrated at all. It is half the age of the 30/06 and the 270, which is why it may not be as popular,and is the parent case for some of the most used and most versitle calibers in hunting.

When it was coming up in the world, everyone was either readingO'Connor and getting a .270, or lusting after one ofRoy Weatherby's magnums. The rebarreled guns from WWII were still popular, and it really didn't hit the big sporting market in full swing until the 70s.

As a tactical bullet, I presume it gets a lot of respect, certainly enough folks using it. Same goes for high power competition.