My guess is it's determined by the "weakest link" like braking distance. Spec's usually cover a wide range of operating conditions and as long as one doesn't operate under one of the more demanding of them, then you might "get away" with exceeding some limits. Not all consequences will be catastrophic failure, could be just increased braking distance, maybe some bearings that fail sooner or springs that sack out. But that puts you soundly "on your own" in terms of longevity and safety. There are reasons the GVWR is what it is, and there's a chance you'll discover just what boundaries the engineers were up against when those ratings were established. I usually don't lose sleep overloading my pickup for a 6 mile run to the dump but I would be less confident it would hold up if I expected it to operate like that every day. So it's relative to be sure, just depends on how far and how long you go past the limits.
Mark B.
Albuquerque, NM