saltywashington
It's true that an overflow can be RATED or HANDLE more flow than a given return pump ~ but it's impossible for the overflow to be "faster" than the pump.
The overflow can only "overflow" as fast as the pump pushes water into the tank.
If your overflow is grossly oversized for the pump, or the pump is grossly undersized for the overflow - all you'll get through the overflow may appear as a trickle.
A trickling overflow will work - but you run the risk of getting tiny air bubbles accumulating up in the top curve of the U tube.
As these bubbles accumulate into on large air gap - if allowed to continue - this air gap can grow large enough to cause the U tube to "break siphon", which leaves it inoperable.
The return pump doesn't "know" this has happened, keeps on pumping, and the tank level will rise to the point of overflowing it's rim.
Results - wet floor and empty sump / burned out pump.
If this happens - and you're not there to catch it, you may lose living creatures too if you're relying on a wet/dry biofilter or heater in sump.
You should not have to valve the draining lines from the overflow.
You can if you wish to - but it should not be necessary if everything's balanced.
Rule of thumb: You should select the return pump so it's maximum flowrate at the installed head pressure is just slightly LOWER than the maximum flow rating of the overflow.