According to Wikipedia, the US Army did a study in 1920 regarding terminal velocity. They used a .30-06 bullet for the test and it's terminal velocity was 200 mph, or about 325 FPS.
Terminal velocity is acheived when the force of gravity that causes something to accelerate towards earth is counter acted by the friction of the air on the object. Eventually a point is reached in which the object can't accelerate any more.
T.V. is different for different objects and is affected by air density, humidity, and the aerodynamics of the falling object. A skydiver falls at about 120 MPH, a Falconm gets closer to 200 MPH.
Personally, I think getting hit with a 150 gr bullet @ 325 FPS will most certainly wreck your day, I don't care what Mythbusters says.
GH1
