After reading about The Bluetones covering the theme from '80s TV show Minder at around the same time as this radio session track was recorded, I somehow had it in my head that "I'm Over And I Know It" and the Minder theme were one and the same. Apparently not - it's in fact a cover of a song by sometime tour support The Webb Brothers. So my impressions of this song were affected by associating it with a TV show that I've never seen and didn't actually have anything to do with it.
The Bluetones' version seems to be pretty faithful to the original (at least as far as a 30 second clip on Amazon can prove...) a sort of boozy, mock-celebratory spiral of despair that covers up the tears with handclaps and 'do-do-do's. It feels more like a tribute to a band that they're fans of than something that they had their own unique spin on to offer, although it's not hard to see it fitting in with the likes of "Never Going Nowhere" in their recent tendency towards double meanings and commenting on their own outsider position. It's a well done enough song to have me at least interested in hearing the full original if I can find it.