I assume you should aim to keep it succinct, though? I've interviewed a guy who literally listed the names of the methods on an API he'd developed. I think he clocked in a 6-7 pages for a three year career. Surprising as he came through a recruiter, I'd assume a recruiter would provide some CV critique.
Chances are the recruiter hadn't a clue what he was looking at. He would have been too afraid to edit it as he had no idea where to start. That sort of info is fine on your personal site which you can link to from your CV but to include it all on your formal CV is madness.
Personally I think 3 pages, 4 max if you are a contractor is more than enough.
Absolutely spot on. A grad will struggle to fill two pages but once you have some bit of experience you really should disregard that rule.