I've tried the conversion on another machine, with much better (but not yet
correct) result:
hg convert
file://localhost/home/vadim/.svk/local/openwengo.svkmirror/wengophone-ng/branches/wengophone-2.2
tmp/wengophone-2.2
432 Merged revisions 11355 via svnmerge from
431 Merged revisions 11362 via svnmerge from
430 Merged revisions 11365 via svnmerge from
429 Merged revisions 11441 via svnmerge from
428 Merged revisions 11442 via svnmerge from
transaction abort!
rollback completed
** unknown exception encountered, details follow
** report bug details to http://www.selenic.com/mercurial/bts
** or mercurial@selenic.com
** Mercurial Distributed SCM (version 03ce5a919ae3)
Traceback (most recent call last):
  File "/usr/bin/hg", line 14, in <module>
    mercurial.dispatch.run()
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 20, in run
    sys.exit(dispatch(sys.argv[1:]))
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 29, in
dispatch
    return _runcatch(u, args)
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 45, in
_runcatch
    return _dispatch(ui, args)
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 348, in
_dispatch
    ret = _runcommand(ui, options, cmd, d)
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 401, in
_runcommand
    return checkargs()
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 357, in
checkargs
    return cmdfunc()
  File "/usr/lib/python2.5/site-packages/mercurial/dispatch.py", line 342, in
<lambda>
    d = lambda: func(ui, *args, **cmdoptions)
  File "/usr/lib/python2.5/site-packages/hgext/convert/__init__.py", line 68, in
convert
    return convcmd.convert(ui, src, dest, revmapfile, **opts)
  File "/usr/lib/python2.5/site-packages/hgext/convert/convcmd.py", line 329, in
convert
    c.convert()
  File "/usr/lib/python2.5/site-packages/hgext/convert/convcmd.py", line 272, in
convert
    self.copy(c)
  File "/usr/lib/python2.5/site-packages/hgext/convert/convcmd.py", line 249, in
copy
    newnode = self.dest.putcommit(filenames, parents, commit)
  File "/usr/lib/python2.5/site-packages/hgext/convert/hg.py", line 132, in
putcommit
    bin(p1), bin(p2), extra=extra)
  File "/usr/lib/python2.5/site-packages/mercurial/localrepo.py", line 658, in
rawcommit
    p1=p1, p2=p2, extra=extra, empty_ok=True)
  File "/usr/lib/python2.5/site-packages/hgext/mq.py", line 2081, in commit
    return super(mqrepo, self).commit(*args, **opts)
  File "/usr/lib/python2.5/site-packages/mercurial/localrepo.py", line 737, in
commit
    new[f] = self.filecommit(f, m1, m2, linkrev, trp, changed)
  File "/usr/lib/python2.5/site-packages/mercurial/localrepo.py", line 648, in
filecommit
    if fp2 == nullid and not fl.cmp(fp1, t) and not meta:
  File "/usr/lib/python2.5/site-packages/mercurial/filelog.py", line 79, in cmp
    if self.renamed(node):
  File "/usr/lib/python2.5/site-packages/mercurial/filelog.py", line 60, in renamed
    m = self._readmeta(node)
  File "/usr/lib/python2.5/site-packages/mercurial/filelog.py", line 38, in
_readmeta
    t = self.revision(node)
  File "/usr/lib/python2.5/site-packages/mercurial/revlog.py", line 945, in revision
    text = self.chunk(base, df=df)
  File "/usr/lib/python2.5/site-packages/mercurial/revlog.py", line 900, in chunk
    return decompress(c)
  File "/usr/lib/python2.5/site-packages/mercurial/revlog.py", line 97, in
decompress
    return _decompress(bin)
MemoryError