Problem with Postgres 7.3 on RHE 5 (semaphores)

Hello,

I am have installed postgresql-7.3.4 on Linux server running Red Hat Enterprise Linux Server release 5 (Tikanga).
Postmaster runs fine with the default settings, but when I try to increase number of connections to 200 I get 
"IpcSemaphoreCreate: semget(key=5432120, num=17, 03600) failed: No space left on device" Error

Now, I dont think the default system settings are too low, default settings for semafores are kernel.sem = 250 32000 100 128
I have tried changing them, but I am not getting any results.

This is a new server, with almost twice the parameters of the older systems I have already running PostgresSQL for years. The settings that I would use normally are:

max_connections = 400
shared_buffers = 2048
sort_mem = 32168

That just doesn't seam possible on this new server. Any ideas?

P.S. 
I can not use newer versions of PostgresSQL.

-- 
Darek Czarkowski