overtrained - no.
under-rested - yes.
burned out - yes.
In talking with my coach and other internet "research" I've done (keeping in mind that everyone responds and reacts to the overload of training differently), actual overtraining on a typical amateur racer training schedule is very unlikely. However, under resting is very likely, as is inadequate recovery with proper hydration, stretching/massage/etc. and caloric intake, which is often mis-diagnosed as "overtrained". Burned out - I'll define as when you cant convince yourself to go as hard as you're physically capable or as you have in the recent past because it just hurts too much. This happened to me toward end of last racing season, my legs were good, but long hard breakaway type efforts just hurt too much and I couldnt convince myself to committ.