There are several criteria for determining the table_cache parameter. These include the number of processes, the number of tables opened at any one time for a query and the application and how it has been developed.
There is no one size fits all, you should have a look at the number of open tables versus the number of opened tables and determine whether the number of opened tables is growing very quickly.
Someone also posted earlier in the week that there was little evidence that increasing the table_cache parameter that this would actually give any (and actually indicates a worsening of) performance.
table_cache negative scalability - MySQL Performance Blog