Since the human eye can't discern more than 24 images / second, you won't even notice lowering the value until you get below that.
Shortly chiming in here. That is not entirely true. It's a bit of misinterpreted since you can hide a 25th picture in a second in teh moviez, we all know the story about that experiment.
BUT
if you're playing videogames, you CAN tell the difference between 24 and 60 frames for instance. The reason a 24 picture/second movie seems fluid, is because every frame has "motion blur". If every frame would be completely sharp, it would look weird.
DF, however, has no animations, just sprites hopping from tile to tile, so 24 frames should be plenty.
Anyway, I have something useful to add, too:
AFAIK bigger space to pick paths from might slow down pathfinding a bit, but narrow corridors force dwarves to REpath, should they collide with another dwarf, and they will only use the same tile for their way when they HAVE to. That is a bit worse than big spaces to pick paths from.
That means: major traffic ways should be 3 tiles wide at least. Stairs to stockpiles or whatever... always have moar than just one.
I tend to have 3 tile wide hallways, but the entrance to the dining room only has two doors, seperated by a wall. The other day approx 80 dwarves were hauling stone out of there and FPS dropped to 50. I removed the wall in between the doors and it climbed to 80 right away. Just sayin.