echo 1 > /proc/sys/vm/overcommit_memory

works perfectly! So the problem was with the kernel _estimating_ how
much memory would the forked process need. Echoing "1" as I understand
disables the check and enables the process to fork.

Since "0" is default of overcommit_memory, perhaps the issue is much
more common on Linux boxes. It also looks like MacOSX is free of this
issue.

If confirmed, it would be nice to have it added to the FAQ.

Great job and many thanks again

Yep. Bam. Thanks again, Internet.