Late reply this, but I read this thread a week or so ago and didn't have the time to comment.
This isn't the only rendering system with a bucket approach. I've been using Mental Ray in Softimage for about 9 years now, which uses a similar bucket system. In situations where a complicated scene runs out of memory straight away, thanks to very high res textures or displacement maps and the like, it's a good idea to lower the bucket size so that each bucket is using less RAM and therefore more likely to render properly. Irritatingly the default settings in Mental Ray seem to be getting higher and higher with each revision of Softimage, so having quite so much experience of tinkering renders to be at their speediest is helpful.
It used to be that it was necessary to tweak the BSP settings, Binary Space Partitioning, which divided the scene up into chunks based on their position relative to the camera and then passed those into buckets. Tweaking that was a nightmare. That is automatic now and seems to work well.
So ultimately, render one frame or a crop best representing the detail and complexity of the scene, make a note of the time, tweak the bucket size, note the time again, etc.