Mysql table opens, caching and iowait times

One issue that seems to be very common when running a MySQL server is high iowait. As we have delved into our servers, one of the main causes we have found is that our table_cache was set too low, causing an ever increasing number of table opens. As we increased the table_cache, and watched for higher hit percentages, we were stumped regarding how many table opens in a given time period were acceptable. A number which I use as a guideline was given to me during a MySQL training course this year. We use a guideline of no more than 10 table opens per hour. More than that- and we need to increase table_cache.