Neo*Geo is definitely not overrated. On top of excellent titles and gameplay, the machines are built like tanks and the controllers are even better. Okay, maybe not the Neo*Geo gamepad that was released for their CD system.
Some random thoughts:
Neo*Geo X portable system - great if you're into portables, don't mind that it's emulated, sounds are a little off, aspect ratio problems, limited library and tough to get different games into the system unless you have one of the early models that can be modded. On the plus side, the packaging is great, quality of the hardware is good, can be hooked up to your TV and the 4-button USB Neo*Geo X joystick is excellent. I use one for MAME, among other things.
Neo*Geo cartridge system - built like a tank, easy to mod, MVS carts are generally cheap, much of the AES games are too, joystick is excellent, built to last and comfortable. Downsides include system and carts being humongous and some games are getting tougher to find and when you do, tend to be a little pricey.
Neo*Geo CD - a contradiction if there ever was one IMO. Single speed optic based system for loading huge amounts of data - yawn, literally! Original premise was to get the cost of the games down for the general public, but nope - they were still overpriced. Sub par controller included to appeal to the NinSega crowd too. I really don't see the point of getting one of these, other than if you scored one one the cheap. Really cheap.
CD32 - love this machine and disagree about the controller and lid, BUT... it is what it is: a stripped down A1200. Besides maybe Fightin' Spirit (Neo*Geo folks behind this IIRC), you really can't be comparing the style of games between a Neo*Geo and an Amiga computer.
Multitude of problems playing games on an Amiga vs. simple plug and play of a Neo*Geo console. All boils down to what you expect and the kind of experience you're looking for.
Are you after arcade perfect titles with great re-playability and love button mashing? Neo*Geo hands down.
Or are you content being disappointed with scaled down versions of arcade games? Many of which hampered even more thanks to crummy inferior least_common_denominator computer conversions. Most all played on a single Atari 2600 style, single button controller.
Bottom line: Get both! Neo*Geo for awesome arcade action and an Amiga computer for all the other great games.
