Sharepoint - "View exceeds list view threshold" even when it doesn't

Yes, however, your threshold also applies to queries, and creating a view that must query more than 5000 items will again hit the threshold. You can bypass this by using indexed columns. Then run your query on the indexed column, because you are querying the index. To set the "Checked out To" column as an index, go to the library settings and below the list of columns, click on Indexed Columns, create a new index and set it to that column. Now when you run your view, make sure that you have the query from the column that shows as being indexed and you should be able to make your view work within the threshold.

Yikes!!!! I cannot believe turning off the threshold is an accepted solution here. There is a reason why a threshold exists.

I had a similiar issue in a SPF environment. First I set Checked Out To as indexed. Here are the view filters that were entered to get the desired results:

1. Checked Out To is not equal to [leave the textbox empty]
2. ID is greater than 0

I would not recommend turning off thresholds indefintely unless you have a supercomputer running SharePoint and only two users are accessing the site. Even then... yikes!!!

You have the option to set the list view throttling really high, however there is another option to disable the throttling altogether. We've actually disabled the list view throttling on two particular lists on our farm.

Here is a powershell script, to disable list view throttling:

$web = Get-SPWeb http://url/to/web/with/list
$list = $web.Lists[“BIG_LIST_NAME”]
$list.EnableThrottling = $false

Source: http://blogs.msdn.com/b/mimorr/archive/2012/08/28/disable-sharepoint-2010-list-throttling-at-the-list-level.aspx