Tom: Overload could be indicated by distortion if it is really heavy duty, or it could just manifest itself as a more aggressive, strident quality to the music. Ideally, all things being equal (which of course they never are) your 2.5 mv output cartridge requires right around 42 db of gain, so 44 should sound much more realistic and natural than 50. On the other hand, if you undershoot the 42 and go into the mid 30s, the sound will probably take on an anemic quality compromising the dynamics cosiderably.
My experience is that if you're within 2-3 db you are probably ok, get to 5-6 db over or under and you are seriously compromising what your cartridge is capable of and getting inferior sound. My suggestion would be to try the 44 db. for a good period of time (maybe a week or so), then switch higher or lower.
I would guess that would be the best setting for you. You
will also find that, if you also use a CD player, you will have to crank the volume on your preamp considerably more with vinyl, possibly between 10 AM and up to even 1 PM if you listen at high volumes but that would be quite normal.
Dialing in gain with high output moving coils can be especially problematic as almost all phono stages are optimized for moving magnets with a higher output than your cartridge or low ouput moving coils with considerably lower output that require much more gain. But that 44 db setting should work quite well.