Holly don't be upset with me but I just have to say it, the most underated Kinks song of all time next to" Waterloo Sunset" is I'm Not Like Anyone Else" from "To the Bone". Just the perfect rock song, Dave rips it up and Ray just nails it.
Naw, I only locked the old thread because I'm a stickler for grammar, and when you say "the most underrated," to me that means one single song, not a new Kinks song posted there every day. They're all underrated, that's true, but I like to think there are only a few that deserve this special title.
For me it just might be "Stormy Sky," which is really odd because generally I tend to prefer the earlier stuff. But I think that song knocks it out of the park, and yet it isn't often mentioned as a top Kinks tune.