Todd-AO was shot at 30fps, and looks... interesting.
As a cinematographer, I can say that usually audiences will not like anything other than traditional look. They booed Cameron off the screen at Sundance when he tried to show his new faster than 24fps digital film. There was also a large (still ongoing ) discussion on Cinematography.com about the merit of shooting faster than 24fps.
The general consensus was that the average audience wants to SUSPEND BELIEF, not have reality shoved into their face. They do not want to watch "reality". They want to watch FANTASY! After all, that's what we as audiences have seen for the last 100 years or so. This is also the reason I believe 3D will fail (again), and everything will go back to the way it has been.
Besides the fact that I will personally never shoot AND PROJECT faster than 24fps. I have a very nice 16mm setup at my home, and will continue to make improvements to my art.
I'm almost completely done with digital cinema, and despise 3D. I'm just glad the Kentucky Theatre in downtown Lexington, KY projects 35mm all of the time.