Size limits are critical; you can't effectively size storage for Exchange without them. Even if you think you don't have limits, you do. The size of available storage is the ultimate limit and you definitely don't want to hit that one.
Now that the size limit lecture is out of the way, what's the client mix? When An item is received in MIME format (from the internet for instance) it's stored in the STM file. When a MAPI client accesses the item (read Outlook), many of the properties are converted to MAPI format and then stored in or "promoted" to the EDB file. If a POP/IMAP/WEBDAV client (OWA and Entourage are Webdav clients) is used to retrieve the message, no promotion occurs.
When a POP/IMAP/WEBDAV client sends mail using Exchange 2000/2003, the message is stored in MIME format in the STM. If a MAPI client is used to read the message, well see the above paragraph ad naseum.
The point of all of this is that you have an STM that is 2/3 the size of your EDB. Client mix plays a large role in the size of the STM. You may want to look at usage patterns and review the clients in your environment. Sometimes, it's not feasable to alter the mix (internal users sending large business critical attachments to vendors/suppliers/customers over the internet for instance). In that case you'll need to factor in the property duplication caused by attribute promotion, or move to Exchange 2007 where MIME is the native format and you don't have an STM.
John