Your "overflow" is a hang-on unit, or uses a u-tube to transfer the water from tank to container to sump?
So you have connected 1.5" pipe to the bottom of the overflow buld-head fitting?.
You really haven't change the capability that much (minimal change), unless you changed the buld-head fitting to 1.5".
But it didn't hurt either
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So its M12-3/4"pvc-3/4"pvc union-1.5"pvc-1.5"90s reduced to .5" pipe? I'm sure the 3/4" run from the pump to union is small, so with the large pipe, the 1.5" pvc pipe greatly reduced the friction losses which allows the M12 to pump its full volume of water.
If it is a hang-on type overflow you could try to either increase the size of the u-tube, or add an additional u-tube.
If your are going to use the gate valves for flow control, ball valves would be a better choice in this situation. You could also side-stream some of the water volume back into the sump, other devices, etc.