I have been tagging/keywordng music for the industry for the last 4 years now. I would say the drawbacks for over tagging clearly depends on the types of licensing companies you are working with and what the guidelines are for each company. For example, I do keywording for Crucial Music on tracks they submit to Getty Images. They have a set amt of keywords that can be compiled, anything over that is cut off and not used, so if you are over-tagging, you could be wasting time. I would suggest no more than 10 descriptor tags for each track. You might want to research effective industry keywords that are frequently used to describe a track for a TV/Film spot (i.e. Blaxploitation, Vintage, Dramedy etc)
Hope that helps you!
Marina
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marina@tagteamanalysis.com