What might be even more useful and cheaper would be a reverse proxy service that allows you to share your local repo on the public internet. Like showoff.io for git.
The repo limit on github does seem a little bit silly. Limit by disk space makes much more sense.
Same situation: I want private repo's. Past that, the only other thing I really want is not to have to worry about ANYTHING. It needs to be secure, backed-up, and quick, without me ever having to give it a 2nd thought.
For that, I'm happy to pay this small fee.
Maybe for hackers like us... ;)
I could do it in ~5 minutes.
I could hack up an MVP of the features that Github has that I care about in maybe a weekend.
That said, I do use and love Github, but I use it for the network effects and general slickness.
If I need a private repo, I get off my fat ass and deploy it in less time than it takes to enter my billing address.
"I also wanted to do almost everything from my terminal, so I built a CLI, that you can use to manage repositories, public keys and collaborators. For daily usage, you probably won't have to go to our web interface ever again, and that's awesome!"
And I think "that's what I have with Gitosis on my VPS" (Gitosis uses git to manage user accounts and keys, so it pretty much doesn't get simpler than that). Companies pay for Github for the tools, developers who use CLI are probably not that interested in forking $9 a month for something they already have. Just my two cents, but I wish you the best of luck :)