Recently I encountered a situation where Subversion keeps on complaining "No space left on device" and terminates the check out. But there was sufficient amount of free space left in the disk.
After searching the Google, I found the root cause for the error. The home partition has run out of iNodes. So the only solution was to remove some of the rarely used files and free up some iNodes.
The iNode usage of your disk can be checked using the following command. (in Linux)
$ df -i
This will print the iNode information of the entire disk in a tabular format.