I just wanted to let everyone know that after much considered review, new lower policy limits on the number and size of related unconfirmed transactions that will be accepted in to the mempool and relayed have been merged into the master branch of Bitcoin Core for 0.12 release.
The new limits are:
25 unconfirmed ancestors
25 unconfirmed descendants
101kb total size with unconfirmed ancestors
101kb total size with unconfirmed descendants.
These limits are just policy and do not affect consensus.
They can be modified by command line arguments.
Thanks,
Alex