Yes, the human eye will detect framerates over 30, but more importantly is how fast your screen refreshes when an object is very near to the camera.
NTSC video systems run at 30fps, but a video picture is pre encoded, precalculated if you will. Also the video system uses fields, so the screen is actually redrawn twice each frame, once for the odd lines, and once for the even. That's just to compensate for the phosphors in the screen losing their charge over time - I digress!
The reason you need as high a frame rate as possible for games are myriad, but here are some:
*Unlike a film or video picture, the user
interacts with the image, giving them a kind of feedback loop which makes them far more sensitive to the refresh rate than a passive viewer.
*A computer screen does not interlace, as described above (fields).
*Movements of game entities are calculated in realtime, and so if you don't refresh the screen often enough, you may see an object move from one place to another by too large a distance to ensure a continuing suspension of disbelief, and at least in a fps, this is paramount, to create a sense of immersion. The most breathtaking graphics in the world will be useless in a fps if they refresh at something less than the rate it takes to allow this suspension of disbelief, look at something like wolfenstein3d(the original), the graphics are blocky and crude by todays standards, but it's still an enjoyable game because the feeling of movement in the game is clever enough to create a suspension of disbelief.
Now, your system has I think quite a lot more ram than the average pc games player has available. The graphics card spec I can't really tell because there are so many breeds of geforce4. Also, it's really going to depend on the kind of game you're writing, if you're making a superduper tetris type thing you could get away with perhaps 100000 polys without hurting the feel of the game at all, but in a fps you'd want to be a lot more careful.
My standard advice on this subject is to make your meshes and textures as small(low poly, low pixel) as possible whilst still retaining the effect you want to present. This way, no matter what sort of game you're making, if you can't get the frame rates you want, you weren't ever going to be able to!
Read that carefully, because what I mean is that if you do everything right and it still runs too slowly then the idea will have to change, perhaps not much, maybe you can't have that horde of 400 poly bees attacking, maybe you should make them out of textured plains etc, and running just one or two 400 poly ones close to the camera to highten the effect...
Unfortunately there's no real formula for polys/textures/code/hardware that can accurately tell you how fast a game you haven't written yet will run.
But I can tell you that my retro entry was written in db1.13/enhanced, and at any one time there are up to 10,000 polys on screen.
That runs fine at 50fps on my system, which is:
Athlon 1800xp
256ddr ram
Geforce2mx400
ZX Spectrum 48k Issue 3, Radio shack Tape drive, Rank arena 12" T.V. set.