MikeB is correct; the limit is roughly 6.8GB. I haven't read the whole thread, but in case no one has mentioned it: a lot of that unusable space is there for anti-piracy reasons.
@starcraft: Yes, very few games are held back by the size limit. Games with lots of pre-rendered cutscenes won't fit, but those just use multiple DVDs. The one game that really does have issues is id Software's upcoming Rage, but with a combination of compression techniques and the use of two DVDs they're working around the problem.








