InnoDB-total number of locks exceeds lock table size (1 reply)

I've recently converted our engine from MyIsam to InnoDB for performance reasons. We have about 800 tables distributed into four DB's with a total ibdata1 size of about 300GB.
I checked the config for table locks and it is set for about 8 million or so. Is there any magic solution to this? We run Drupal on Ubuntu and our MySql version is 5.0.75 (64 bit 16 core 24GB RAM).

Ideas? Suggestions? Appreciated.

Thanks