You can push any telescope as far as you want. Have a look at the boxes some of the hobby scopes come in. You can push them to 500X plus. WOW
yeah right
The limiting factor is your scopes ability to *resolve* detail, and as suggested the standard normally stated is between 50 and 70 times per inch. To resolve detail is to be able to clearly distinquish between objects. This is affected by quite a number of factors including atmospheric conditions and the "contrastiness" of the object and your eyes ability to distinguish contrasts. (Determining your eyes limiting factor on resolution takes practice, often on a number of different scopes). This is part of the reason we can use rediculously high magnifications when imaging planets with webcams. It is much easier for the computer to distinguish constrastiness than our eye can. Plus we can muck around with settings to improve this identification.
Anyway back to the issue at hand.
At the magnificatons stated on the side of the hobby scope at 500X for a 60mm scope (2.5" = 125X mag approx). At 500X resolution = zip, none, nada, jupiter is a big fuzzy blob of yellow. 250X still a yellow fuzzy ball, but smaller and maybe you will start to see a bit of coloured banding and maybe a more defined outline (depends on the quality of the lens/mirror of course. Poor quality optics and you won't get to 50X / inch). Now as you drop down from 250X and get closer to the theoretical maximum you will find more and more detail starting to appear, but it is as 125X that you will get the maximum amount of magnifications with the upper limit of resolvability for that size objctive. Remember we are talking 60mm hobby scope here with the associated optics. Oh and I haven't said anything about the quality of the eyepieces affecting image resolution
Now lets look at your ED80. Well for a start you'd hope that you had better optics. Np there I don't think. (And better eyepieces) And your lens is well collimated. I have heard of a couple of people having probs but they are few and far between. Your telescope and lens are at ambient so there are minimal tube currents. Your seeing is good, 7.5-9/10 and you are looking close to the zenith to minimize atmospheric extinction and other atmospheric effect. You should expect to exceed the 50X limit. Let's say 65X. So your theoretical magnification maximum and retain maximum resolution is 192X (say 200X). Anything over this or as you look lower towards the horizon or the atmospheric conditions deteriorate will reduce your *effective* resolution. Your scope resolution stays the same but is limited by other factors.
Ok you look at Jupiter at that magnification (Saturns cassini division would be a better test as it has good contrast for the eye). Assuming that the other factors above have been taken care of then you should be able to a nice crisp image with good resolution. Now you start upping the magnification. Still looks good but you may be starting to notice that the view looks a bit "softer" And the higher your magnification goes the "softer" the view looks. You are exceeding the resolving ability of your scope.
In the long run its a matter of preferences. Do you want to keep to the resolving power of your scope and get sharp crisp but smaller images, or are you prepared to sacrific some resolution for increased image size.