Oh, there's no question that Metallica has been overrated, both in the Bay Area Thrash scene and in thrash in general. Kill'Em All and Ride the Lightning are indeed great thrash albums, but they're great thrash albums in a sea of great thrash albums- some of which are better. Hell, Heathen, who play in a similar style to Metallica on Victims of Deception, completely blow them out of the water- as UltraBoris on Metal Archives puts it, Victims of Deception is the album Metallica would have released if they hadn't sucked.
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I agree with that. I've always said that Overkill are the true kings of American Thrash as well, with Destruction being the heads of the German Thrash scene. I get pissed off at the insane amounts of press that gets heaped on the Metallica camp myself, but they did put out some good music. Kill Em All is still a kick ass album, but that's due to the fact that Dave Mustaine wrote it. It's also not Metallica's fault that Overkill blew the original advance they got for Feel The Fire on booze and thus tallica was able to beat them to the punch with Kill Em All.
Overkill may have blown their chances at fame, but they're far more metal than Metallica will ever be. Blowing your advance money on booze ist krieg. And Overkill is definitely the best of the American thrash bands (Kreator beats out Destruction for me, though).
Oh yes, and Tankard
is intelligent metal. Their cogitations on beer, dying with a beer in your hand, killing aliens who steal your beer and hangovers are truly illuminating.