Sgt_Kickaxe - 12:06 pm on May 21, 2011 (gmt 0)
IF page speed is a ranking factor it's one of those "secret sauce" secrets Google really should publish so we have an accurate target. Keeping it secret doesn't help improve the web.
Google webmaster tools suggest that 1.5 seconds or less is fast. While it's not a reasonable target if your site has any features beyond plain text/html and basic images I would work to keep the site in the top 33%.