OMG why do you even say he is overrated?
Jiraiya was almost killed by naruto 4-tails because he didn't know it's power and he was trying to help naruto, or else jiraiya would have been just fine.
The Oro, Tsunade and Jman fight, well it was a cool fight where Jman was drugged and unable to use his full potential... and if he really wanted to kill oro, he would have tried to enter Sage Mode.
Jiraiya also fought Itach (Kinda like a stare down) Jiraiya won, for many reasons (some not explained) but i'm not gonna go into detail, since it will start a little flaming.
Jiraiya also fought Pain where he easily got time to enter Sage Mode, and when he entered he seriously got unbelievably strong... and from my point of view if pain didn't have shared link, all those pain bodies would have been trashed in no time. Jiraiya however killed 3 bodies (one of them twice) and he could have done even more if he stayed on guard.
Jiraiya is not overrated he is just living up to our expectations as a Sannin of Konoha.