Does using LVM cause you to lose filesystem space twice? Lot's of missing space after lvextend

We have several Dl360 G6's in the field. They had 2x 146G disks in a raid 1. After LVM, this shows up as a 136G volume (7% loss to filesystem).

This was carved into 100M /boot, and the remainder an LVM PV. The volgroup contained 2 logical volumes, one 54G dedicated to swap (yes, it's a lot, yes, it's by design), and 81G dedicated to /.

As of today we added 2x 300G disks in a raid 1. This shows up in the OS, and after being added to LVM it shows as 279G (7% loss to filesystem). This showed up as /dev/cciss/c0d1.

I ran these commands -

Make new array an LVM volume -

pvcreate /dev/cciss/c0d1

Add the volume to the existing volume group -

vgextend VolGroup00 /dev/cciss/c0d1

Extend the root partition logical volume to use 100% of the new space -

lvextend -l 100%FREE /dev/VolGroup00/LogVol01

Resize the volume -

resize2fs -p /dev/VolGroup00/LogVol01

The problem is, we seem to be missing a lot of space. About 90G to be exact. The output of vgdisplay shows about 82G of physical extents free (Free PE / Size 2642 / 82.56 GB), as if it ignored that I had included 100%FREE.

Am I misreading something here? Did I do something incorrectly? Any help would be appreciated. I'm wondering if the possibility of losing space to LVM formatting, and then losing space a second time to the ext3 filesystem on top of that causes a "double" loss of usable space. But that doesn't seem to explain what I see in pvdisplay and vgdisplay.

Here are dumps of the LVM commands on the host:

[root@bass01 ~]# pvs
  PV                VG         Fmt  Attr PSize   PFree 
  /dev/cciss/c0d0p2 VolGroup00 lvm2 a-   136.59G     0 
  /dev/cciss/c0d1   VolGroup00 lvm2 a-   279.34G 82.56G
[root@bass01 ~]# lvs
  LV       VG         Attr   LSize   Origin Snap%  Move Log Copy%  Convert
  LogVol00 VolGroup00 -wi-ao  54.00G                                      
  LogVol01 VolGroup00 -wi-ao 279.38G                                      
[root@bass01 ~]# vgs
  VG         #PV #LV #SN Attr   VSize   VFree 
  VolGroup00   2   2   0 wz--n- 415.94G 82.56G
[root@bass01 ~]# df -h
Filesystem            Size  Used Avail Use% Mounted on
/dev/mapper/VolGroup00-LogVol01
                      271G   18G  240G   7% /
/dev/cciss/c0d0p1      97M   19M   73M  21% /boot
tmpfs                  36G     0   36G   0% /dev/shm
[root@bass01 ~]# free -g
             total       used       free     shared    buffers     cached
Mem:            70         12         58          0          9          0
-/+ buffers/cache:          1         68
Swap:           53          0         53
[root@bass01 ~]# pvdisplay
  --- Physical volume ---
  PV Name               /dev/cciss/c0d0p2
  VG Name               VolGroup00
  PV Size               136.60 GB / not usable 7.45 MB
  Allocatable           yes (but full)
  PE Size (KByte)       32768
  Total PE              4371
  Free PE               0
  Allocated PE          4371
  PV UUID               nh7cgk-3pr7-gZst-Pz6o-PAWt-X1wZ-GH4TmI

  --- Physical volume ---
  PV Name               /dev/cciss/c0d1
  VG Name               VolGroup00
  PV Size               279.37 GB / not usable 22.29 MB
  Allocatable           yes 
  PE Size (KByte)       32768
  Total PE              8939
  Free PE               2642
  Allocated PE          6297
  PV UUID               tHEAfR-HsNd-jNUT-mOwj-Ettb-N76X-fXIf0Q

[root@bass01 ~]# vgdisplay
  --- Volume group ---
  VG Name               VolGroup00
  System ID             
  Format                lvm2
  Metadata Areas        2
  Metadata Sequence No  5
  VG Access             read/write
  VG Status             resizable
  MAX LV                0
  Cur LV                2
  Open LV               2
  Max PV                0
  Cur PV                2
  Act PV                2
  VG Size               415.94 GB
  PE Size               32.00 MB
  Total PE              13310
  Alloc PE / Size       10668 / 333.38 GB
  Free  PE / Size       2642 / 82.56 GB
  VG UUID               dcPGvL-SUCl-l99e-pQJN-e6sA-xEKZ-Q5ZT1G

[root@bass01 ~]# lvdisplay
  --- Logical volume ---
  LV Name                /dev/VolGroup00/LogVol01
  VG Name                VolGroup00
  LV UUID                p7of6A-poAR-1iXs-Tgpq-lJRh-qae3-VNxBTO
  LV Write Access        read/write
  LV Status              available
  # open                 1
  LV Size                279.38 GB
  Current LE             8940
  Segments               3
  Allocation             inherit
  Read ahead sectors     auto
  - currently set to     256
  Block device           253:0

  --- Logical volume ---
  LV Name                /dev/VolGroup00/LogVol00
  VG Name                VolGroup00
  LV UUID                X4iAo4-kKd8-ZZvJ-vfqq-fdMo-HaEM-YIsGE7
  LV Write Access        read/write
  LV Status              available
  # open                 1
  LV Size                54.00 GB
  Current LE             1728
  Segments               1
  Allocation             inherit
  Read ahead sectors     auto
  - currently set to     256
  Block device           253:1