Yes he broke through a season before Ronaldo IIRC (talk of him being called up for 2002 world cup).
From that period Hugo Viana was also being insanely hyped so he could be another for this thread as his move to Newcastle didn't work out. Had a solid career afterwards in Spain and Portugal.
There was a time when he was doing very well for Porto and Ronaldo was starting to reach his peak for United, so in 2007 and 2008 they played together alot for Portugal.
I still remember they trashing Brazil and Belgium. Somehow Quaresma still managed to come back to the side after years out and went to the Euros and World Cup these last few years. A nice career, no doubt about it.
I'd put Quaresma in the same bracket as Diego or Robinho, they should have achieved much more, but it's still wrong to talk about them as if their careers was some sort of a flop.
You mentioned Hugo Viana, there was a dude named Lourenço who was Portugal top scorer in Toulon tournament 2003 when Ronaldo catched United's eye, but not sure what turned out of Lourenço.