Great thread! I've also struggled with overcommitment and actually came up with a checklist that walks me through looking at the list and shaving off projects and actions from my active lists when overcommitment shows up. I actually look at this during my weekly review and when I can get to my daily review (most processing and organising).
Rather than repeat it here, I'll link you to a short blog where I write out this renegotiating commitments checklist: http://enyonam.com/2013/03/11/shaving-off-the-to-dos/
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