I think the reason that the Koss Porta Pro is apparently overrated is because of it's uber cheap price....but obviously there is a performance/cost element at play here.....and the reason that the Koss PP is 'overrated' is because it's one of the best headphones going for that kind of money, simple as that, and so a LOT of people buy that headphone - myself included - and they think wow these are awesome for how cheap they are. And that's true because you can easily pay double that and get a worse sounding headphone. In fact I have, twice. Which would be my fault but that's not the point. The point is with the Koss PP (and Senn PX100) for the money they're asking, you get more quality and bang for the buck and THAT is why many, many people rate them so highly because those headphones pretty much are the definition of cheap and cheerful. So if we are not taking price into consideration whatsoever (which I don't see how you cannot) then yes they are overrated in one sense, but to be perfectly honest it's ALL relative. By much the same token there's a LOT of people who refuse to pay over X amount of money for any headphone no matter how good it is....so again it's all relative and it differs from person to person. My point is that the Koss is fantastic value for it's cost especially when you look at what double money tends to bring. But are they up to Senn 595 standards or above ? Highly unlikely - but at the same time they are simply not $100 headphones and that's in large part why they're rated so highly.
My opinion.