I don't think he's undervalued by Thunder fans or the organization, but when it comes to the national media I think there is a lot of misunderstanding about the quality of his contributions to the team. I put together a little post at my site, Hickory-High, that I thought I'd share here. The link: Thunderheart.
I put together some statistics to back up my argument, here's a few of the main ones:
Since Collison returned from injury the Thunder have gone 18 - 9. If you're keeping track at home the Thunder's winning percentage went from 0.556 without him to 0.667 when Collison rejoined the team.
In November, after nine games, the Thunder had an ORtg. of 104.8 and a DRtg. of 107.7. In the 27 games since Collison returned the team has posted an ORtg. of 107.0 and a DRtg. of 103.4. This has brought their season ratings to 106.1 and 104.0 respectively.
In 548 minutes with Collison on the floor the Thunder have an ORtg. of 110.1 and a DRtg. of 102.2. In 1204 minutes without him their ORtg. is an identical 110.1 but their DRtg. rises precipitously to 110.0.
In terms of point differential they play like a 41 win team without him on the floor and a 61 win team when he is on the floor.
I'm primarily a Pacers' fan but the Thunder are one of the other NBA teams I watch consistently and there is something so satisfying about watching Nick Collison play. He's not flashy or jaw-dropping, but if you keep your eyes on him you'll find him consistently in the right place, making the smart play and doing the little things to help his team win.
I write for IndyCornrows, the Pacers' SBNation site, and there have been a lot of wild trade suggestions thrown out in the FanPosts looking for a defensive minded power forward to pair with Roy Hibbert. A few completely outlandish ones have centered around ways to get Ibaka and Harden to Indiana. I'm of the opinion that Collison would be a much better fit. I don't suppose we could interest you in a Solomon Jones/T.J. Ford pu-pu platter?