The 2nd title is certainly over optimized. I gave it as an example, but it's not the main point.
My main discussion question is if a short title tag would have better rankings over a long title tag. Here's the logic.
The SE's really care about what is in the far left of the title tag. As you move further to the right the less the search engine cares about it. Other key phrases would have diminishing returns the farther right you get. If you are only optimizing for one key phrase it would, by default, be located in the far left of the title tag.
Would this short title tag then have a higher CTR? Would users see this shorter title tag as more direct and trustworthy because it does not look spammy.
A higher click through rate would then have a positive impact on SERPs (as it is believed to be factored into the overal results algorithm).
Also, as an unknown factor, is there any evidence that SE's weighs a page more heavily if it is optimized for one key phrase rather than a few?
Have any tests been done optimizing for just 1 phrase in the Title Tag to measure CTR?
If the above points are true, then it would we a cost/benefit analysis of whether a higher CTR is worth not having extra key phrases targeted after your primary key phrase.