Wilt was the better player. Dont see how anyone can say otherwise. Every account of that era from players/analysts supports this. Don't know how this changed over time. A big part of Russell's success and Wilt's lack of it was Red Auerbach and his strategy. I think Bill Russell becoming an ambassador of the game has alot to do with it.
I dont think Bill Russell is overrated.. He's an all time greats and one of the nba pioneers, a top 10 player of all time.. But dude becomes overrated when people try to rank him higher than Kobe.. How dare people rank him over Kobe when he's a Poor Mans Joel Anthony at best.. I know he's the best in his era but theres no way that dude can play in the modern era that are composed of tall, strong and athletic players..
Just a friendly reminder to all the fans of the weak era.. 5 foot white boys aka 50's 60s players were already extinct in the nba so guys please move on and stop living in the past..
The all time list is not about who is actually the best player, but about who made the more impact in their time, and I think it's pretty easy to say Russell had a giant impact in the league back then. How he would play today is irrelevant.