Vacuum analyze question on estimated rows

In the following output the vacuum knows there are 99,612 pages and
1,303,891 rows. However the last line of output during the analyze only
thinks there are 213,627 rows. Is this so far off because the table is
bloated? Version of PostgreSQL is "PostgreSQL 7.4.3 on
i686-pc-linux-gnu, compiled by GCC gcc (GCC) 3.2.2"

INFO: vacuuming "ods.production_fact"

INFO: index "production_fact_pkey" now contains 1303891 row versions in
30843 pages

DETAIL: 0 index pages have been deleted, 0 are currently reusable.

CPU 3.21s/0.24u sec elapsed 58.51 sec.

INFO: "production_fact": found 0 removable, 1303891 nonremovable row
versions in 99612 pages

DETAIL: 0 dead row versions cannot be removed yet.

There were 12241393 unused item pointers.

0 pages are entirely empty.

CPU 7.33s/0.78u sec elapsed 64.37 sec.

INFO: vacuuming "pg_toast.pg_toast_104431207"

INFO: index "pg_toast_104431207_index" now contains 0 row versions in 1
pages

DETAIL: 0 index pages have been deleted, 0 are currently reusable.

CPU 0.00s/0.00u sec elapsed 0.18 sec.

INFO: "pg_toast_104431207": found 0 removable, 0 nonremovable row
versions in 0 pages

DETAIL: 0 dead row versions cannot be removed yet.

There were 0 unused item pointers.

0 pages are entirely empty.

CPU 0.00s/0.00u sec elapsed 0.37 sec.

INFO: analyzing "ods.production_fact"

INFO: "production_fact": 99612 pages, 3000 rows sampled, 213627
estimated total rows