Here's the Guitar Player's list of top 40:
1. Andy Latimer (Camel)
2. Andy Powell/Ted Turner (Wishbone Ash)
3. Andy Timmons
4. Bill Nelson (Be Bop Deluxe)
5. Billy Duffy (The Cult)
6. Billy Zoom (X)
7. Bradley Nowell (Sublime)
8. Brett Garsed
9. Charo
10. Dave Peverett (Foghat)
11. David Lindley
12. Dean DeLeo (STP)
13. Dean Wareham (Luna)
14. Eric Stewart (10cc)
15. Francis Dunnery (It Bites)
16. Graeme Downes (Verlaines)
17. Huw Lloyd-Langton (Hawkwind)
18. James Honeyman-Scott (Pretenders)
19. Kim Simmons (Savoy Brown)
20. Larry LaBonde (Primus)
21. Martin Barre (Jethro Tull)
22. Matt Bellamy (Muse)
23. Maurice Deebank (Felt)
24. Michel Cusson
25. Mick Murphy (My Ruin)
26. Mick Ronson (David Bowie)
27. Paul Kossof (Free)
28. Rick Derringer
29. Ricky Wilson (B52s)
30. Rik Emmett (Triumph)
31. Robbie Krieger (Doors)
32. Roine Stolt (The Flower Kings)
33. Ron Asheton (Stooges)
34. Ronnie Montrose
35. Rory Gallagher
36. Simon Lees (Budgie)
37. Steve Blaze (Lillian Axe)
38. Steve Rothery (Marillion)
39. Tim Sult (Clutch)
40. Wilko Johnson (Dr. Feelgood)

After I typed this out, I realized that the list is alphabetized by first name and in not based on "who's more underrated than who". I kept the numbers just to make sure I got in all 40.

Tom Tracy
http://www.soundclick.com/tomtracy