Your theoretical network horizon (the number of hosts you could reach if your searches weren't ever dropped by other ultrapeers) has always been greater than the actual network size, - even if you would connect only to one ultrapeer you should (in theory) be able to search the whole gnutella network. The problem is that the network is overloaded and that there are many freeloaders.

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Morgens ess ich Cornflakes und abends ess ich Brot
Und wenn ich lang genug gelebt hab, dann sterb ich und bin tot

--Fischmob