Example embodiments of this invention relate to a coated article including an infrared (IR) reflecting layer of a material such as silver or the like, for use in an insulating glass (IG) window unit for example. In certain example embodiments, the coating is a single-silver type coating, and includes an overcoat including an uppermost layer of or including silicon nitride and a layer of or including tin oxide immediately under and contacting the silicon nitride based overcoat. In certain example embodiments, the thicknesses of the silicon nitride based overcoat and the tin oxide based layer are balanced (e.g., substantially equal, or equal plus/minus about 10%). It has surprisingly been found that such balancing results in an improvement in thermal cycling performance and improved mechanical durability. In certain example embodiments, the coating may realize surprisingly good substantially neutral film side reflective coloration, and may achieve an improved visible transmission, SHGC ratio and low U-values. Moreover, in certain example embodiments, stress in the overcoat of the coating may be reduced by reducing nitrogen gas flow (N2 ml/kW) and cathode power during a sputter-deposition process, thereby further improving thermal cycling performance.