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Lair seems to come to mind off the top of my head...

It was hyped for a long time as one of the great PS3 games in development. It had me almost to the point of pre-ordering it and buying a PS3. I'm really glad I my gut told me to hold off. We all know what happened after it was released.

At least Halo 3, is a good game. Overhyping a bad game is worse then extreme hyping a good game. I will go and gladly pay $50-60 for a good game no matter how much it is hyped. I get ticked when I buy a overhyped game that should be bought out of the bargain center for $9.99 if at all...