underrated? almost anything David Gilmour or Andy Summers did.
A personal fav is David Gilmour's work on Syd Barret's "Late Night"
I'll also add Billy Corgan in Soma
(starts at 4:24, pay attention to the work of the guitar with the voice and drums towards the end of the solo)
and last but not least, the awesome "Three Days"!
and be thankful I didn't add any QOTSA!!! 
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