Optimum tire inflation really depends a number of factors which generally include: vehicle/rider weight, road/terrain conditions, riding styles, vehicle speeds, and ambient temperatures, etc. Determining the optimum tire pressure(s) for you, your vehicle, and your riding style/road/terrain conditions can be a matter trail and error.
As for the OP, most modern tires state a maximum tire pressure that is about 40-50% less than the actual blow-out pressure. I myself, tend to stay within the maximum pressure as stated on the tire sidewall. However, I've known several very high speed motorcycle owners (Yamaha 650 turbo w/ modified waste gate, Yam RZ 500 2 stroke 4 cyl. road race replica, etc) that successfully ran their tires at 90+ psi (probably 20%, or so, over max). But then again, these guys routinely reached speeds well in excess of 150 mph...
BTW, using a high quality rim tape is always a good idea (especially when running "double walled" rims).
Here's a SB link that some of you might find interesting:
http://www.sheldonbrown.com/tires.html