I suspect that's a pretty slow way to try to fill your DB up. You're doing individual INSERTs and possibly in individual transactions (unsure, I don't use PgAdmin); it's not going to be fast.
Try COPYing rows in using psql. I'd do it in batches via shell script loop myself. Alternately, you could use the COPY support of the DB drivers in perl or Python to do it.
Which version of Pg are you running? If it's older than 9.0 you're possibly better off using "CLUSTER" instead of "VACUUM FULL".
3. do Vacuum full to be sure free space is removed
VACUUM FULL test.limits;
Use pg_total_relation_size to include TOAST tables too.
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