It depends on the rest of the loop. Too much pressure is only a problem if either:
a) the liquid is moving too fast across the blocks to adequately transfer heat off them
or
b) the pressure is higher than the joints and rads can handle. I forget who it was, but I remember reading through somebody's worklog a while back, who was using an old heater-core for their rad, and they had so much pressure going into it that it actually ruptured the rad at a few points.