FreeBSD shared memory settings

Hi Guys.

I have a bit of a peculiar situation.

I have t move a PostgreSQL 7.3 installation from a freeBSD 4.8 to a FreeBSD
6.1.
I have PG 7.3 installed in a single directory, have moved the directory from
one server to another. After instaling all the compat 4x and 5x libraries
everything seems to be ok, except when i start postmaster, the following
error comes up:

IpcSemaphoreCreate: semget(key=5433001, num=17, 03600) failed: No space left
on device

This error does *not* mean that you have run out of disk space.

It occurs when either the system limit for the maximum number of
semaphore sets (SEMMNI), or the system wide maximum number of
semaphores (SEMMNS), would be exceeded. You need to raise the
respective kernel parameter. Alternatively, reduce PostgreSQL's
consumption of semaphores by reducing its max_connections parameter
(currently 32).

The PostgreSQL Administrator's Guide contains more information about
configuring your system for PostgreSQL.

I have adjusted kernel settings for shared memory, but no go.
We have a native PG 8.1 on same machine (different port) working just fine.

Also the 7.3 install (FreeBSD 4.8 binary) has all default values in
postgres.conf for FreeBSD 4.8.

Any ideas ?

Thanx
Paul