I don't think it was meant to come across as "over committing resources".
As far as i know, the way openvz works, is that you are able to assign as all the resources you can to each VM, as the hardware has..
For example:
Lets say you have a PC with a dual core cpu 4gb memory, and 1tb hdd.
From what i can tell, you can assign each slice with full cpu access, 4gb or memory, and each slice will only actually allocate what resources it needs for any current task, then back off the resources, as it idles..
So you can stack up whatever amount of resources you want per VM minus the hdd space. You have to statically assign hdd space, but the system dynamically allocates resources per VM as it is needed. The assigned resources (cpu and memory) that you set are the max allowed per VM. You can set up a VM with a limit of 50% cpu 1gb (out of 4gb) and the VM will not ever use more than that....
This is why i can easily run 200+ slices (after bug fix) on my 3ghz+ quad core xeon with 8gb of ram. The only "real" limit is how much you want to cap off each VM. outside of the obvious hardware limitations..
So when it was said about over committing resources, you really can't do this. The system wont let you. the 49 max VM thing i found, is just a bug that will be fixed in the next release mentioned above.