Would you consider Loaded by The Velvet Underground a really overlooked album?

No, I agree with Elvis Guru that their self-titled is very underrated. This was basically Atlantic Records telling Lou Reed to write a bunch of 'poppy' songs that would be 'hits'; it didn't help that he had A.M. radio man, Doug Yule, in the group. "Who Loves The Sun" is great, even though Yule sings it.