Okay where is the relief valve? Are you talking about something on the control valve or on the pump? I have put a brand new control valve and got the exact same results. 500-750psi forward and 2000psi going backwards.
Or are you talking about on the pump? I have adjusted the slotted screw under the cap on the intake side of the pump so that it bogs but doesn't stall. From what il seeing online there is another ball on spring type valve on the output side of the pump but I have not touched it because I do not know what it does.
The pressure relief valve is probably built into that cone shaped protrusion on the new valve you installed. Sometimes they are built into a separate area of the valve. If you saved your original documents, it should at least be mentioned how to adjust the pressure relief valves.
Since your engine keeps running when it is stalled on retract, I am assuming that it is set about right, and shouldn't be the problem. How 'bout you tell us what model of valve you bought, and we can find out more info on that?
I continue to think that it isn't the cylinder, however. No amount of "bad seals" will cause the tank to overflow. I've bought far more hydraulic cylinders over the years that the average joe with a log splitter, and I've never had one that failed when new. I think that is the last place you should be looking.
I want to see proof that the hydraulic motor is being spun in the correct direction. I would like to see the details on the casting of the hydraulic valve to make sure it isn't being fed oil from the wrong side. And I want to see something that assures me that the oil is being picked up from the bottom of the tank (or close).
I believe that something is letting air into the system. You said the high pressure lines were loose, yet didn't leak. In my opinion, that cannot happen.
And... I have not heard any reports as to whether there was a check valve located anywhere on the system. One little check valve in the wrong spot can cause troubles, as can a pressure relief valve.