There is another ingredient that needs to be factored in when discussing frame rates and that is the physiological aspect of human perception. There are two concepts I encountered when reading a book titled "The History of Narrative Film" Sadly I no longer have the book so I cannot recall the author, but as I recall the first chapter dealt with a brief history of human perception. Over the centuries, scientists psychologists and more recently neurologists have come to an understanding of how the human brain and eye, work together to enable us to see the world we see. On a very basic level I was introduced to two terms "Persistence of Vision" which is the brains ability to retain an image for a fraction of a second after the light has been absorded by the eye, and "Phi Phenomena" Using the books example, Phi Phenomena allows us to take a colour wheel painted with equal thirds, red, blue and green, spin the wheel at high speed so that the individual colours appear as completely white to the human eye. It is this same phenomena that enables 24 individual still images to be run on a projector at 24 frames a second, with the projected light passing through a shutter with a 180 degree angle that allows a frequency of 1/48th of a second. Anything slower than a frequency of 48, the human eye will perceive as flicker.
In fact this is where the generic term "flicks" that referred to movies or film in the early days of cinema came from. Because celluloid wasn't cheap, especially in the beginning and to save money, camera's were hand cranked at roughly two rotations of the handle a second, giving a rough speed of 16fps, well below the minimum of 48fps, which when projected back at roughly the same speed appeared to "flicker" when viewed by the audience on the big screen.
So it isn't just all just about the technology and what it can and can't do, it is as much about the physiological effect it has on the people watching as well that must be taken into account, I understand one of the benefits of filming and projecting at a higher frame rate is it places less strain on the peoples eye's when viewing in 3D.
To quote a personel example I couldn't understand why my Mum and Dad didn't want to see any recent films projected in 3D, I asked why, and they told me that when they watched 3D films in the 50's and 60's using the old antiquated technique of viewing through the old red and blue glasses it left them with a headache. It took me a while to convince them that the technology has moved on in 50 years, but the perception still lingered.