Macca is far from a "legend", but by the same measure - is far from a big time Charlie too.
On the pitch along with Fowler, he kept the team afloat throughout the 90's (well who else was going to; Ruddock, Babb, Scales, Bjornebye, James, Redknapp, Leonhardsen?), and without him, we would've been fucked.
Let's not forget (as others have rightly pointed out) that Liverpool attempted to sell him without notice to Barca (and the notion that it was "because he was thinking of leaving" is untrue...). He left on his own terms, and in hindsight - who can blame him? Our team at the time was on a downward spiral, and the chance to join Madrid who at that time were rightly regarded as the biggest team in football was (as much as it pains me to say it...) the right move for him.
Off the pitch, don't ignore the fact that Macca along with Fowler donated large amounts of their weekly wage to the Liverpool dockers for almost the entire strike (something which they kept quiet at the time) to help keep food on the tables, and a roof over the heads of the families who were part of the struggle (and I wont go into the work and money he donated; and still does; to various Childrens charities in the city).
Big time Charlie?
Absolute bollocks.
Legend?
No - merely our best player for at least 6 years.