That's not a problem at all. Even on the original iPhone.
I think a tech demo I once saw had close to 140,000 and ran at 5 - 8 fps.
The newer iPods are insane with the amount they can draw. I have full procedural planets running on those with atmospheric shaders and 10's of thousands of triangles and they keep on chugging at 20 fps.
Also, my engine makes everything into integers for drawing, which cuts down on data transfer which is the main bottleneck. So really don't sweat it. Converting from floats to integers gives us another 20% of throughput or more.
From memory, on my 1st Gen iPhone I have a space dogfight sequence in my big Space Sim with about 20 ships, each with 600 - 1000 polys each, and 4 screen facing quad lens flares on the engines (on each), and particle effects for plasma.. all running at 15fps. Oh and there are about 40,000 stars being drawn in the background, and a couple of planets.
The main overhead is sending lots of individual objects with their own transformations. So one of the things I hope to do, which is break each model into individual cubes when they explode, is going to be taxxing. But we could easily have 15 or 20 of your objects on screen, with particle effects and all kinds of stuff going on.