Opening the gas port is going to increase gas as I understand it and if you need more gas an adjustable gas block is not going to do anything if there is not enough gas coming through the gas port. Mine was the opposite, it was a cheap 7.5" barrel and came with a slightly too big gas port from the factory and had to get an adjustable gas block to tune it down cause of the enlarged gas port in the barrel. It worked fine with a standard low pro gas block but recoil was more violent than I liked and the brass was being thrown almost straight forwards... plus it was dinging the brass up pretty bad.
The port was so large I had the adjustment screw all the way in on my seekins block and it works perfect. No more dinged brass and they land to the 3 to 4 o clock area.
If its over gassed then M16 BCG, Heavy buffer, stiffer buffer spring will help the dwell time and slow everything down a bit but if its over gassed its just helping not fixing. Really the only way I see it to fix being over gassed is an adjustable gas block as its limiting the gas getting to the parts in the back and excess goes out the end of the barrel.
If it functions then the only downside to being over gassed is a increase in the wear of parts, more recoil, and sometimes it bangs your brass up a little more which is a problem if you reload like I do.
I have a M16BCG with standard buffer and spring with a seekins adjustable gas block on a Midwayusa 7.5" barrel. I had a YHM low pro non adjustable gas block on before and it just wasn't what I liked so I switched to the Seekins.
Hope that helps.