MD80 CREW HAD ALT OVERSHOOT IN PHL CLASS E AIRSPACE.

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ALTDEV. WE DEPARTED PHL WITH A LIGHT ACFT. TWR HAD BEEN IN A HURRY TO GET US OUT DUE TO HVY VOLUME OF ACFT LNDG AT PHL. AS A RESULT; TWR SWITCHED US OVER TO DEP CTL IMMEDIATELY AFTER WE WERE AIRBORNE. THIS COINCIDED WITH THE MOMENT WE WOULD HAVE CALLED OUT THE LITANY OF 1/2 RATE FLAPS UP; CLB PWR. IT WAS THE FO'S LEG. ABOUT THE TIME I CALLED DEP CTL; THE FO ASKED FOR SLATS UP. I CORRECTED HIM; BUT THIS FURTHER BROKE THE USUAL VERBAL FLOW. PHL DEP CTL WAS ALSO BUSY AND TOLD US TO WAIT A SECOND BEFORE FINALLY ACKNOWLEDGING OUR DEP. AT OUR LIGHT WT WE RAPIDLY CLBED TO OUR ASSIGNED ALT OF 10000 FT. THE FO WAS HAND FLYING AND AT 10000 FT BEGAN TO ACCELERATE TO 320 KTS. DURING OUR RATHER RUSHED AND BROKEN DEP SEQUENCE; NEITHER OF US NOTICED THE CLRNC HAD NOT BEEN ANNOUNCED ON THE FMA. AS THE SPD RAPIDLY EDGED TOWARDS 320 KTS; I TOLD HIM TO WATCH OUT FOR OVERSPD. THIS HE ACKNOWLEDGED BY REDUCING PWR; HOWEVER; WE STARTED TO BALLOON ABOVE 10300 FT. ATC TOLD US HE SHOWED WE WERE AT 10300 FT AND GAVE US A NEW ALTIMETER SETTING. AS THE FO WAS CORRECTING BACK; ATC SAID HE THEN SHOWED 10500 FT AND SAID TO DSND TO 10000 FT. WE WERE IN THE PROCESS OF RETURNING TO THIS ALT AS HE SPOKE ALTHOUGH WE NEVER SAW MORE THAN 400 FT DEV. NO TFC WAS CLOSE NOR DID ATC HAVE TO ISSUE ANY INSTRUCTIONS TO OTHER ACFT TO DEVIATE FROM THEIR PATHS. SUBSEQUENTLY; ATC SWITCHED US OVER TO ZNY WITHOUT FURTHER INCIDENT.