No, the overloading in PHP is limited explicitly to the magic methods (__set, __get, etc). The best we can do with the overload is via exploiting the namespaces, but that still doesn't apply to objects only to main level functions. Of course that isn't overloading, but at least we can make procedural code with our own names now (like count()). It support full override, but overload is still beyond PHP's capability (and always will be since they've always governed using optional arguments instead of explicit). With the datatype weakness, even with the typehinting, I can't see ever getting full overloads.
One I wished we could do is generics. Its a pity that we cannot, but at the same time writing an extension to an existing collection and adding the verification needed (via a callback would be easiest) would be quite simple. Once again goes hand in hand with the datatype weakness. Another I would like is checked exceptions, but once again since PHP is datatype weak, even the exceptions cannot be dereferenced to a type until runtime, so checked wouldn't work. Pity.
As for objects being just methods containing procedural code, yeah that's exactly what they are. You still need to process the logic, but the objects are a container; the paradigm itself is completely different in how its accessed and used versus procedural.
As for my PHP OO programming approach, yes it is very much like java. In fact, I learned the PHP OO development by applying my java knowledge translated directly into PHP code; at the time it wasn't as easy as it is now since that was early 5.0 generation PHP. I even model my PHP API interfaces off of the Java core API (almost literally, same method names, usually the same signatures). Stuck with doing it that way since.