Big Filesystem and Compressed Filesystem?

[Ben Russo]

Again looking for about the same answers...
RHEL2 was unable to see SCSI devices larger than 1TB (or thereabouts)

If I were to have multiple 800GB LUN's and then bound them together with 
LVM would they be useable as filesystems larger than 1TB?

What if I use RHEL4 for x86-64 beta  (64 bit kernel on an Athlon Opteron 
System)?

Does anybody know of a kernel or filesystem or mount option that will 
allow transparent compression of the files on that filesystem?