shm error on Solaris 8

I saw a problem similar to mine on this thread: http://www.hswn.dk/hobbiton/2006/08/msg00667.html <http://www.hswn.dk/hobbiton/2006/08/msg00667.html>; 
My situation may be a little different though. In my case I've been tasked with running a hobbit instance in parallel with an existing bb4 instance ON THE SAME HOST. I've modified my hobbitserver.cfg to run on port 1985 but I get the same error in /var/log/hobbitlaunch.log as David observed. A section of the logs follows (similar messages repeat):
2006-09-27 12:48:56 hobbitlaunch starting
2006-09-27 12:48:56 Loading tasklist configuration from /opt/home/hobbit/server/etc/hobbitlaunch.cfg
2006-09-27 12:48:56 Loading hostnames
2006-09-27 12:48:56 Loading saved state
2006-09-27 12:48:56 Cannot access checkpoint file /opt/home/hobbit/server/tmp/hobbitd.chk for restore
2006-09-27 12:48:56 Setting up network listener on 0.0.0.0:1985
2006-09-27 12:48:56 Setting up signal handlers
2006-09-27 12:48:56 Setting up hobbitd channels
2006-09-27 12:48:56 Could not attach shm Too many open files
2006-09-27 12:48:56 Cannot setup client channel
2006-09-27 12:48:56 Task hobbitd terminated, status 1

Help? I'm not comfortable tweaking kernel parameters. Can someone walk me through it? Should it solve my problems? Can hobbit and bb4 co-exist on the same host?
 
 
Stephen F. Menton  メントン・スティーバン
Cingular Wireless, Business Consultant I
IT Billing Operations, Performance Monitoring
user-4db528dfd7f0@xymon.invalid
(XXX) XXX-XXXX - office