Olive, you could use the advance terrain features if you are having a solely outside level.
The cull option you spoke of is to make sure that backfaces are not drawn, as apposed to culling parts of the level that aren't visable.
As for your first question it all depends on what else you have going on. For example AI can often be one of those things that really eats fps...also you have the fact that 100 models with 100 polies each are slower than one model with 10000 polies....It is quite a flexible figure.
Hope that helps a little.