The Penguin is probably DC's most under-rated character. Whenever I see him in a comic, he's almost treated with disdain by the artist, as if they can't wait to finish the drawing and move on to the next character. It's too bad they don't see the potential that Burgess Meredith and Danny DeVito did. What other villain could stand up to the dark knight in a debate?
I see him as a gentlemen monster. Someone who might walk off the Titanic, but would also be at home on the iceberg.