Pretty much agree with bwfc:
Xavi, he wasn't better at that point
Figo, old - no
Kaka, no!
Pirlo no way
Deco no chance
Nedved no chance
Zidane, yeah he probably was
The point bwfc made about it being difficult to compare players from different leagues is a good one as its pretty true.
But it also poses the question that hasn't the premier league been the best worldwide in the last decade? I certainly think that can't be argued, id even say it still is. And Gerrard has been one of the most consistently superb performers of it, even from that list many of those players have had long period of off form, in worse leagues, probably with better players surrounding them (at least in comparison with the rest of their leagues players). Gerrard has never had a really bad run of form.
Surely the very fact that hes being compared to the likes of the above show he isn't really overrated, it would be like saying Ronaldo is overrated because you think Messi is better