I believe it is 65 versions, by default. That is at least what my portals default  to.

I just went in and started loading up on test versions. I got
over 100 versions  for the one document. This is in a WSS site doc
library. Is there a difference in the settings for this vs. a portal
doc library?

Does anyone know how/where to set  the version  limit for a doc
library in a WSS site?

Again, this is v2, not v3.

I'm not aware of any limit  in v2.

I seem to have the number  999 in my mind, but I can't find  why. I
know that this was the version  limit in SPS2001.

You may like to look at the script on the SPS2003 resource kit CD
that will reduce the number of versions. It is a heavy handed
approach, but can be scheduled.

Also look at: http://tinyurl.com/f3frf This is an unsupported as it modifies the DB.

The number  penny told 999, might well be true, i am not sure. but in my personal experience,
when you create folders and sub-folders (4-5 levels) and then try to create versions  in the sub-folder in the very bottom, you have problems. you are alright when trying to access your latest version  accessing but previous versions returns 404 error.

so the depth of your document library  severly affects versioning.

I have not come across any setting for limiting the number of versions.

Folders are evil in WSS v2 Document Libraries.

I always try to get staff to add columns and groupings and do away w/ their folders.