As a comparison, I removed the -mlarge option from both the compiler and linker and recompiled. Here is that output:
additional relocation overflows omitted from the output DownhillSlide
DownhillSlide.out section `.text' will not fit in region `ROM'
gmake: *** [DownhillSlide.out] Error 1
gmake: Target `all' not remade because of errors.
region `ROM' overflowed by 1552 bytes
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_2' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_3' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_9' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_srli_8' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(srli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_13' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_12' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
relocation truncated to fit: R_MSP430X_ABS16 against symbol `__mspabi_slli_8' defined in .text section in c:/ti/ccsv6/tools/compiler/i686-pc-mingw32/bin/../lib/gcc/msp430-elf/4.8.0/430x\libgcc.a(slli.o)
section __interrupt_vector_42 loaded at [0000ffd2,0000ffd3] overlaps section .text loaded at [00005c58,00010583]