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I think it's worth considering that our current Vice President is not old enough to remember Reagan being in office.
That said, this Millennial Republican voter's opinion is that Reagan is both overrated and over-hated. Why? Because he was mostly a continuation of Carter's neoliberal agenda with a more optimistic presentation. Good or bad, neoliberalism should be understood not as something imposed by the GOP (who, let us remember, never controlled Congress during Reagan or H.W. Bush's Presidencies) but also as a change in elite consensus within the Democratic Party. Pick something that Reagan is blamed or credited for and odds are that Carter really started it. Union busting? Carter appointed Volker whose interest rate hikes wrecked the sort of private sector jobs that were heavily unionized. That big military buildup? Also started under Carter, and for all his peacenik vibes post-Presidency he took a more confrontational tone toward the USSR (compare Carter's Zbigniew Brzezinski to Nixon's Henry Kissinger) than Nixon. Maybe we buy the idea that Reagan didn't care much about AIDS but I've yet to see a convincing argument that the US handled it radically worse than the rest of the developed world. Most Democrats voted for Reagan's tax cuts. As Governor of California Reagan was hardly a conservative firebrand. He signed off on tax increases while legalizing abortion (and he'd go on to screw over the pro-lifers again by nominating Sandra Day O'Connor to the Supreme Court) and no-fault divorce. Free trade and immigration? The Democrats have been free traders more or less continuously for the party's entire existence, and Congressional Democrats were more likely to vote for Reagan's amnesty than members of his own party.
IMO his legacy is outsized for both sides because it allows a certain brand of Republicans to act as if they had more to do with the good things that happened than is arguably the case and a certain brand of Democrats to avoid facing the fact that they'd largely been betrayed by their own party's politicians. Amusingly, certain right-wing ideologues figured it out first, which is why both Ron Paul and Pat Buchanan ran campaigns against Reagan's successor, George H.W. Bush.
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