Hi nking and welcome to the forum.
The penalty is one of efficiency as opposed to safety, the furnace has limits and controls to handle the safety. The size of your house doesn't indicate the need for a unit that big, but the actual size calculations should have been done. Unfortunately, if those calculations pointed to the furnace size you have they should have improved the house and not oversized the furnace.
If you want to do some real DIY you can do your own heat loss evaluation and learn more about short cycling and air distribution. In the end you will probably find areas where you can reduce your energy costs and if in the future you need a new furnace you will know what size.
As a note, some furnaces have the ability to be downsized, but your numbers suggest oil heat. Gas is more flexible, but still a question to ask your service person on his next visit.
Bud