[REAPER 4.31 32bit fresh portable installation, Windows 7 x64]
Recording with the MIDI overdub/replace mode, with selection autopunch...
issue #1: The recorded item exceeds the length of the selection (it is a little longer)
EDIT... now in the bug tracker, please confirm:
http://forum.cockos.com/project.php?issueid=4574
issue #2: EDIT: Please disregard, fixed in next version.
Video demonstration:
http://screencast.com/t/3gVi16LFI
Also, do you guys get the fade in/out handles in the recorded items?