I have 2.6.7-1.503 kernel running on a Thinkpad 600E with an uptime of 4 days.
Now when I invoke xterm - I get the error:
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xterm : Error 32, errno 2: No such file or directory
Reason: get_pty: not enough ptys
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And the machine is sluggish - can't loginto via ssh etc..
Time for a reboot and check for more updates..
Satish