I've pretty much come to the conclusion that what's an acceptable frame rate can deviate considerably depending upon the type of game,, individual eyesight, acclimation to specific frame rates. etc.
Personally, I find roughly 43-50FPS adequate for shooters.
Flight sims on the other hand I find 100% adequate at 20-24FPS.
Sports games I find adequate at roughly 30-35 for slower paced games like baseball, and roughly 35-40FPS for fast paced games like hockey.
RPG's I generally prefer a set solid frame rate of 30FPS. Indeed, many RPG's don't even allow frame rates above 30FPS. With RPG's frame rates tend to be directly related to affects such as path finding which depend upon a set frame rate for proper calculation of nodes. In such a case frame rates too high or too low could easily make the game virtually unplayable.
It really depends a lot on individual games though, and I even find it varies depending upon resolution.
Consider that most people consider 60FPS ideal for playing shooters etc.
Does that mean 60FPS is ideal for flight sims? Hell no!
There are flight sims out there that are 2 years old that still don't hit 60FPS on the fastest systems available today.
Modern flight sims typically only hit 30-35 frames per second on the fastest systems available upon release.
Playing a shooter at typical flight sim frame rates would lead to gameplay that was extremely choppy... but on flight sims that don't depend on fast twitch movements of the trigger etc, then such frame rates are more then adequate.
What's adequate has been argued to death, and it's pretty much a guarantee that there are those out there that wouldnt dream of playing at frame rates that I consider perfectly acceptable, while others probably consider my preferences extremely high.