We have experienced the same issue when moving the sql server in-house.
A good solution that we ended up using is splitting the sql file into chunks. There are several ways to do that. Use
http://www.ozerov.de/bigdump/ seems good (but never used it)
http://www.rusiczki.net/2007/01/24/sql-dump-file-splitter/ used it and it was very useful to get structure out of the mess and you can take it from there.
Hope this helps :)