This is a great thread, a very smart question Greg!
I wish I had a great answer, but I'll share what I know.
Humidity should be kept at a minimum, what that is I do not know for sure. High humidity causes problems with corrosion, expansion, can play fits with electronics and numerous other problems.
I have my layout in my basement and I live in Baltimore. My basement is air-conditioned, but with outside humidity levels rising about 90% many times in the summer the best I can do is to keep my basement in the 50% range. I could do better, but I am always opening the door to let my silly beagles out. I love my puppies!
So far I have not experienced any problems, but my first layout has only been up since January. I know from my experience as an industrial mechanic humidity has cumulative effects that may not show up for months or even years in some cases.
Keep a close eye on inside and outside humidity. You can get digital hygrometers to measure humidity cheap these days. I had an old analog meter and it is worthless because it is old and the humidity got to it! Harbor Freight has a nice multi-meter that measures humidity, sound level, luminance, temperature, voltage and more! for $44.99
http://www.harborfreight.com/5-in-1-digital-multimeter-98674.html and if you look in the Sunday paper or sign up for their newsletter you can get coupons to save 20% or more. You can also find simple digital hygrometers at your local stores for less then $20
Save and reuse those silica gel packs that come with new items. They are great for things stored in boxes and any where you can stash them out of sight on a layout near a sensitive piece of equipment.
Bottom line is keep the humidity levels as low as you can with out spending a small fortune. Dehumidifiers are a good cost effective option.
For me over 60% would be too high for me to tolerate and I would have to add a dehumidifier. I may learn that is too high. It will never be 0% and we would not want it to be.
I have not read any specific recommendations concerning acceptable humidity levels. I am sure there is an expert on here that can tell us more.
Louis