The problem is that the uniqueness check apparently increases the serial counter and hence I burn through the bigint IDs much faster. It's a waste for 100m+ records...
It's a little hidden but
http://www.postgresql.org/docs/current/static/functions-sequence.html
Per the last sentence, updates to the sequence are never rolled back -
the insert is always going to increment the id regardless of whether it
hits the exception or not.
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