Two HD channels will effectively use it up if you want full quality. If you start lowering the quality of the HD channels, you're back to the same problem.
“An engineer explained to us that hundreds of ear impressions were gathered in the name of research, and while each one obviously boasted its own unique shape and size, one single characteristic remained uniform across the board: the entrance into the ear canal is not a perfect circle, it's an oval.”
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Why not use the space for 2 HD channels and if there's space left over, add SD channels until it's all used up?
Two HD channels will effectively use it up if you want full quality. If you start lowering the quality of the HD channels, you're back to the same problem.