How can I truncate table cells, but fit as much as content possible?

<table border="1" style="width: 100%;">
    <colgroup>
        <col width="100%" />
        <col width="0%" />
    </colgroup>
    <tr>
        <td style="white-space: nowrap; text-overflow:ellipsis; overflow: hidden; max-width:1px;">This cell has more content.This cell has more content.This cell has more content.This cell has more content.This cell has more content.This cell has more content.</td>
        <td style="white-space: nowrap;">Less content here.</td>
    </tr>
</table>

http://jsfiddle.net/7CURQ/

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