Boy, that's an arbitrary term if ever there was! The first mention of overbore I came across was in P.O. Ackley's handbooks, and it basically meant the powder capacity of the case was too much for the bore diameter of the barrel. Further increases in powder capacity, while providing increases in velocity, did so with a diminishing return the further overbore one went. Case in point: the 6.5x55 Swedish Mauser peaks around 50 grains of IMR4350 to launch a 120gr bullet at 2880fps. Going up, my 6.5-06 uses 55 grains of IMR4350 to move that same bullet at 3200fps. That's a 5 grain powder increase for a 320fps velocity increase. The .264 Winchester Magnum has been loaded with 62 grains of IMR4350 to push the same 120gr bullet to 3350fps. The powder increase is 7 grains, with a velocity increase of 150 fps. And they go higher yet, to include the 6.5-300 Weatherby Magnum, and the 6.5 STW. But notice that even as you push the bullets faster, the powder increase isn't linear with the velocity increase, you get to the point where even a goodly amount of powder increase effects only a small rise in velocity. Ackley referred to the rounds that went past optimum efficiency for their powder capacity as "overbore". Now, take my examples above with a bit of salt, because there are other factors, to include the pressures at which the rounds operate, barrel length, case design (PPC), etc. Nobody would ever call the 6.5x55 Swedish Mauser a high pressure round, while the 6.5 STW definitely falls into that category. Here's another comparison: The .30-06 is considered to be "efficient", while the .30-378 Weatherby Magnum is "overbore". Can you see the distinction?
(Gawd, I'm long-winded, sorry about that!)
Raven