The below article suggests 42 revisiosn is "not uncommon"
http://www.symantec.com/docs/TECH92051
What's right for you though, is very subjective. More revisions means more disk space is used, but it does mean that deltas can be provided for clients running older versions of defs.
The question is: if you have a high enough number of machines requesting the full fat defs (i.e. currently for you, those with defs older than 3 days) that providing deltas insteadv would result in a significant bandwidth saving?
If you only encounter machines once in a blue moon with defs older than 3 days, then you're probably fine as you are. However, if you have loads of machines with defs older than 3 days (each pulling down the full defs and causing bandwidth issues) then you'd benefit from increasing the number of revisions retained (thereby allowing the SEPM to provide smaller, delta def updates, at the cost of more disk space being used on the SEPM).