() Eli Zaretskii <eliz@gnu.org>
() Tue, 07 Jan 2014 19:08:04 +0200

   Thanks.  "git gc" gets me from 1.18GB to 1.1GB.  I tried
   --aggressive, but that ran out of memory (trying to allocate 1GB)
   after some time and errored out.

I had the same problem in a similar circumstance (git-bzr).  See:

 http://lists.gnu.org/archive/html/emacs-devel/2014-01/msg00329.html

for the resolution (briefly: use "git repack" w/ ‘--window-memory’).

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