If you've only been shooting for a week, it would be remarkable if your form were perfect, and there are all kinds of form problems that can cause shots to go off target.
But since you didn't mention any shooting problems, I'll stick to arrow issues. You may be shooting too weak a spine, which would explain the right misses (you are a RH shooter?). You could try 1916 or 2016 arrows, and see if that makes any difference. Your nock point may be too low, which could explain the high misses. For 3 under, a 3/4" nock point is common.
If you are able to shoot 60 shots a day, it would be hard to say you're overbowed. But I don't know how well you're drawing and holding. If it is comfortable for you to draw and hold your bow at full draw for 2-3 seconds, shot after shot, you're probably doing fine.
You might want to measure your draw length with a lightweight bow, just to see if it's closer to the 29 3/4" you think it should be, and to find out if you're short-drawing your bow.