Usability or Data Bug in SERIAL column declarations

This was tested in 7.4.

If you have a table where you declare a column to be
SERIAL, the data type of that column will be set to
type integer (int4).

If you have a table where you declare a column to be
SERIAL8, the data type of that column will be set to
type bigint (int8).

In both cases sequences are created as int8 values with
a maximum of 9223372036854775807.

BUG: The assignment of the table containing the int4 column
will overflow at 2147483648 (max integer size).

A possible solution is to set the maximum of the sequence
to max integer size when it is created for a SERIAL column
(and to max bigint when created for a SERIAL8).

Tell me if I've misunderstood something.

--elein

elein=# create table iceseq (myseq SERIAL, acol text );
NOTICE: CREATE TABLE will create implicit sequence "iceseq_myseq_seq" for "serial" column "iceseq.myseq"
CREATE TABLE
elein=# create table iceseq2 (myseq SERIAL8, acol text );
NOTICE: CREATE TABLE will create implicit sequence "iceseq2_myseq_seq" for "serial" column "iceseq2.myseq"
CREATE TABLE
elein=# \d iceseq_myseq_seq
Sequence "public.iceseq_myseq_seq"
Column | Type
---------------+---------
sequence_name | name
last_value | bigint
increment_by | bigint
max_value | bigint
min_value | bigint
cache_value | bigint
log_cnt | bigint
is_cycled | boolean
is_called | boolean

elein=# select * from iceseq_myseq_seq;
sequence_name | last_value | increment_by | max_value | min_value | cache_value | log_cnt | is_cycled | is_called
------------------+------------+--------------+---------------------+-----------+-------------+---------+-----------+-----------
iceseq_myseq_seq | 1 | 1 | 9223372036854775807 | 1 | 1 | 1 | f | f
(1 row)

elein=# select * from iceseq2_myseq_seq;
sequence_name | last_value | increment_by | max_value | min_value | cache_value | log_cnt | is_cycled | is_called
-------------------+------------+--------------+---------------------+-----------+-------------+---------+-----------+-----------
iceseq2_myseq_seq | 1 | 1 | 9223372036854775807 | 1 | 1 | 1 | f | f
(1 row)

elein=# \d iceseq
Table "public.iceseq"
Column | Type | Modifiers
--------+---------+-----------------------------------------------------------
myseq | integer | not null default nextval('public.iceseq_myseq_seq'::text)
acol | text |

elein=# \d iceseq2
Table "public.iceseq2"
Column | Type | Modifiers
--------+--------+------------------------------------------------------------
myseq | bigint | not null default nextval('public.iceseq2_myseq_seq'::text)
acol | text |