Toyota recommends 32/29 for my car, and of course its 44 max sidewall.
I usually go for 37/35, but on my next fill, I'm going to try 38 all around. Many will tell you to go at least to 35...
I always tell people that an underinflated tires is significantly more dangerous than an overinflated one. Overinflation, to a degree, will give you increased performance and gas mileage - both important things.
Yes, the ride is a bit harsher, but really, I don't think its a big deal at all. If you're already riding on low-profile tires, then chances are you care more for handling than ride comfort. If you have high sidewall tires, you probably won't notice much a difference (ride quality wise) since you probably have a long-travel suspension setup.
Also, as Bags said, make sure to check it when its cold... I check it before I've driven it for the day, with a quality tire gauge. Personally I use the Accutire digital gauge that I bought from Autogeek (available in the store, too). I'm so happy I bought it...