Hi A.,
I'm hesitant to answer your question because I think the answer should be coming from your pediatrician, but I didn't want you to think no one was listening. Please understand that I am not a doctor in any way, shape, or form, and that your doctor would know your child's needs best. That said...
My daughter just turned 8 mos. today, but for all of last month, her daily intake was this (times are general): 7AM: nursing; 8AM 3T cereal & 4 T fruit/veg; 11AM nursing; 12PM snack (apple slice in teething feeder, for example); 3PM nursing; 5PM 4T cereal & 4T fruit/veg; 6PM nursing; 6:30 bottle (6-7 oz.)
Now, how that compares to what you're doing, I'm not entirely sure but you could add up the tablespoons and see. The main differences I see is that you're doing only two bottles/day and that you're doing larger meals (are you doing cereals?). From what I've read--Dr. Sears has a guide on what they should be eating for each age, as does the Baby Whisperer--breastmilk or formula should still make up the majority of their diet at 7 months. Is it possible that he needs another bottle or two? Also, he might need smaller, more frequent meals. He might be eating as much as he can hold, but his tummy is tiny, so it doesn't last him very long. As for overfeeding him, again--check with your doctor, but everything I've read says that babies are really good about knowing when they've had too much. They'll either refuse food outright or spit up.
Good luck--I know the guesswork can be overwhelming.