Stew beef, overcooked or undercooked?
Generally speaking when speaking of "stew beef", the meat will break down more the longer you cook it. I often make shredded beef for tacos out of that cut by simmmering it for a few hours or more. At 1 hour, I'd say it was undercooked.

For example: http://www.foodnetwork.ca/recipes/Main/Beef/recipe.html?dishid=1772

In there he recommends using stewing beef, browning it first and then "... stew until the meat is tender and can be cut with a spoon. This will take at least an hour and a half."