#1
I've recently started getting into them, and I just listened to their last album, Speak of the Dead - and I was totally blown away. It's a 'concept album' or whatever you call that, the songs are sort of linked and flow one into another, they're also all orchestrated, and the orchestra parts are just as awesome as the band itself is. I love the tone of their guitars, vocals are pretty decent too; definitely worth checking out if you're into, um...
I don't really know what could I compare them to. I guess because of the whole orchestra thing, the album reminded me of Metallica's S&M, but it's definitely alot better (in my opinion anyway)
I guess it's like a blend of Iced Earth and Metallica, with some shred on top, or something. Either way, you can listen to some samples on their site - rage-on.de (it's in english, don't worry), though the song off Speak of the Dead they have on there is probably worst (for me) off the entire album.

If anyone cares, I'll upload a few samples to my ftp; I really want more people to hear them, since they certainly deserve more credit than they get.
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#2
Rage are quite good and terribly overlooked. IMO the songwriting isn't exactly their strong point although their musicianship is excellent. And then Victor Smolski is an incredible guitarist. Couldn't say they belong to my favorite bands, but fans of heavy metal with some power metal elements should take a listen, definitely.
Good starter song: Straight to Hell
Die Sonne graut dem Morgen
Morsch sind Baum und Pfad
Die Sonne graut dem Morgen
mir ist kalt...
#3
RAGE are good, and certainly deserve more credit than they get, as you say. I like most every album they've released since Perfect Man in 1988 (me, fanboy? Never), but prefer the four latest, with the current line-up. I've gotten a whopping two of my friends to listen to them.