I think that one of the best things that you can teach your dog is how to settle and it is very easily done.  First attach your dog's buckle collar to a leash.  Now dance around and have a party.  Jump up and down, get your dog excited.  Do this for 30 seconds or so.  Then say "settle" and hold still, ignore your dog even if he keeps jumping and trying to play.  When he stops moving around and trying to get your attention, praise him quietly and give him a treat by throwing it onto the ground for him. Now ramp him up again for 30 seconds and go through the process again.  Do this several times a day for a couple of weeks, then begin to wean him off of the treats by only treating him intermittently for settling but don't forget you should praise him every time he settles.  Also keep up the practice so your dog doesn't forget what it means to settle. 

So what exactly does this do?  Well for a start you have just taught your dog a cue to settle so in the event that he goes over the top at an inappropriate time, ie when the in-laws come over for supper.

Secondly you have taught your dog that he can get really high with excitement and play or any other type of aroused state such as fear or anxiety and is quite capable of settling himself down.

Lastly teaching settle is pretty much a pre-emptive strike in that dogs who have been taught to settle, especially those who have also practiced default to a down, tend not to go over the top all that often anyway and that's a good thing.