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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