In the average reef tank, nitrate levels below 20 ppm are fine (especially if it's an all soft coral tank). In a SPS dominated tank, less than 5 ppm is a more appropriate goal.
Our reef tank has a mix of softies, LPS, and SPS (no fancy Acropora, but there are some Acropora, Montipora, Stylophora, Pocillopora) and nitrate levels hover between 5 and 10 ppm. I've had no problems with anything in the tank at those nitrate levels.