In regards to actual iops, not sure what this thing can peak at off the top of my head, but we'll easily be doing 100 queries a second this year, with a considerable portion of those queries pulling out ~1mb documents.
Playing it conservative, so I am moving towards gzipping those large documents (never need to access anything but the full data, > 90% of accesses are directly served to clients that can handle inflating the data). For now they will stay in mongo, but I am building out an evaluation of using a flat file structure and just letting nginx pass them out.