More often than not it's 4-5 ships that are pimped out pretty well.
I wouldn't go any higher than 150 pts. on a standard 3x3 play surface. It gets a bit crowded.
-Cal
EDIT: I'd like it to be the normal for casual play, but I fear for tournament play you'd see loooong games. I also agree with I find more ships once considered being sub-optimal get used, again, as well as ordnance.
Edited by Caliber42