IpcSemaphoreCreate: semget(...) failed: No space left on device

I shortened the error msg to fit it into the subject box.

I just completed a fresh install (not upgrade) of MDK 9.2 onto a 1.0 GHz 
Athlon with 512 MB of RAM.  The PostgreSQL 7.3.4 RPMs were installed when I
did the MDK 9.2 install, which also created the postgres account.

The 'short version' for installation worked perfectly up to the following
step:
 
initdb -D /usr/local/pgsql/data 

which I have used for several years, failed on me for the first time, giving
the error msg shown in the Subject box.

I am not going to recompile MDK's kernel to raise the maximum number of
semaphores (SEMMNS), and the 'max_connections' parameter is currently at 1
and can't go lower, unless it is indexed starting at zero.

I was unable to post this to the Mandrake Bugzilla page because it is down.

What is the possiblity that I would encounter this error if I were to remove
the 7.3.4 RPMs and install the 7.4 tar files manually?

TIA!
--
GreyGeek