You're right, Flacco isn't the best there is, and I am sure there are some who over-rate him. But I think most of us don't, we have a pretty realistic view of him as we watch him every week. We know he has poor pocket awareness sometimes, takes forever on his reads sometimes, makes some bad decisions sometimes, and gets rattled after five or six sacks (just like that number 12 and every other QB haha).
Yeah he has those odd weeks where he'll throw 3 or 4 interceptions, but when you go and look at them, usually a couple of them will be the receiver's fault, not Joe's. When he throws an interception at crucial times, it's because Flacco's one of those guys whose thinking "if this one sticks, we're gettin a W" rather than thinking "gosh if I get intercepted here, imagine the article about me on nfl.com, lets just settle for the close L". The guy chances his arm, and I respect that.
You can talk down the 11-0 superbowl run performance as much as you want, and we all love Torrey, Q, Pitta and Jacoby, but come on they were hardly the best receiving corp in the league. Frankly Joe's never had that, maybe this year if everyone stays healthy and Perriman performs to his billing.
The thing that sticks most in my recent memory is the divisional playoff game against the patriots last year, we lost that one, but I think you could safely say Joe was about the only guy who planted a flag on Revis Island that season. We call him January Joe for a reason, because he doesn't get carried to the Lombardy like several other QB's I could mention (cough that 70's guy in black and gold and every Broncos SB cough)
A guy at work once said to me "you'd trade him for Brady wouldncha" ... and gave me that look when I just looked him in the eye and said "nup"