I created a test DVD, that had a background on the main menu with rectangles (4:3 ratio) each a different color, inside of each other. For example I started with 640x480 rectangle of one color, then a 600x450 rectangle of another color on top of that, centered, then a 540x405 rectangle of another color on top of that, centered, and so on. The object was to see just how much was getting cut off when viewing it on the TV instead of the computer. Then after creating the DVD I played it in my DVD player and discovered that when viewing on the TV you view roughly 600x450 of the 640x480 picture. That means you are losing 20 pixels from the sides, and 15 from the top and bottom. This is 12.1% of the total viewing area, doen't that seem to be a lot for overscanning?
I have not had a chance to play this test DVD on other players and TVs or to try and examine the difference with factory DVDs.