Depends on the version
A few years back most programs sufferd with the 2GB limit
Here are 2 links complaining about bzip2
http://rspsoftware.com.br/rspbzip2.htm
http://bytes.com/forum/thread431897.html
Consider using
7-zip
It beats bzip2 in time and size
Here is a test I've done on a 1GB log file (plain text)
Code:
size zip% mm:ss.n zipped size
AP_send_20080717.log 1105986047 0.00% #N/A #N/A
gzip -1 62949561 94.31% 00:26.6 |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| Deflate method
bzip2 -1 31637027 97.14% 05:31.8 ||||||||||||||||||||||||||||||| Burrows-Wheeler block sort-ing algorithm
gzip -9 29785817 97.31% 01:52.1 ||||||||||||||||||||||||||||| Deflate method
7z -mx=1 22776486 97.94% 01:07.0 |||||||||||||||||||||| Lempel-Ziv based algorithm
7z -mx=1 -m0=lzma:d=4m:lc=4:fb=128 12638145 98.86% 01:32.6 |||||||||||| Lempel-Ziv based algorithm
bzip2 -9 11632622 98.95% 08:56.5 ||||||||||| Burrows-Wheeler block sort-ing algorithm
7z -m0=ppmd:o=32:mem=29 9942841 99.10% 02:50.3 ||||||||| PPM-based algorithm (very good for plain text files)
For database dumps I find this best for me (speed & compression)
7z -mx=1 -m0=lzma:d=4m:lc=4:fb=128
Another site doing a far greater job to compare than me is:
http://www.maximumcompression.com/data/log.php
PS. The vesions used in my tests
gzip 1.3.5
bzip2 1.0.2
7-Zip 4.57