Overshoots and ringing...Do I need to compensate my probes or is it bad line termination?
Make sure you:
1) Compensate the probes, you can do this with the square wave output found on your scope. (which you have already done)
2) Eliminate inductance. Your probes are an RC filter, when you add inductance this turns them into an RLC filter and makes them ring. Put the ground of the probe as close as possible to the source. Ground planes have parasitic resistance and inductance, if the probe ground is far from where your measuring, these parasitics will change your measurement.