Watch Sleepers if you want to see underrated actors. That film is full of them. Ron Eldard, Jason Patrick, Billy Crudup, Minnie Driver, Bruno Kirby and even Brad Pitt. Along with some of the best in the business - Robert De Niro, Dustin Hoffman and Kevin Bacon. <iframe width="425" height="349" src="http://www.youtube.com/embed/XpKK34FZxJY" frameborder="0" allowfullscreen></iframe>
Apparently the Academy do. The vast majority of talk I hear about him is very positive. I think he's fucking awful.
I also think Nicholas Cage sucks most of the time, but he does have some great roles. Loved him in Kick-Ass. Most of the time he does get out acted tho. Some other underrated actors that I haven't seen mentioned are - Liam Neeson, Michael Madsen and Gary Oldman.
Gary Oldman's a good call. Nicholas Cage has never been a good actor, but he has made some good films. Unfortunately, he can't seem to say 'no' to films that are clearly going to be totally rubbish.
Jim Carrey has definitely done some great comedies though. Liar Liar, The Mask, Dumb and Dumber, Ace Venture etc.
Daniel Day-Lewis is IMO under-rated. Brilliant actor but has been in very few movies. To be honest that may be because he's very picky unlike someone like Steve Buscemi who has probably been in nearly every movie I've ever seen.
Don't think he is underrated. Pretty much every film he's been in has been lauded fairly highly. Frances McDormand, however...
Yeah I would put dan day lewis in the "they can do know wrong" basket, massively reated. The secret being he didn't go full retard in My Left Foot.