Every list is different. Some of the big guys get less than 0.1% but if you have a list of 1 million that's still a lot of sales.
Recently as the cost of autoresponders has risen some people are only building buyers lists, look at the number of $1 offers that are beginning to appear in the market, and they produce better results. I have heard of marketers getting astonishing results from really small lists and recently spoke to someone who had come 7th on a launch with a list of under 3000. The top affiliate had a list of over 500,000 and from the other names on the leaderboard I doubt than any of them had a list of under 50,000.
What matters is the trust you have built with your list. That and that alone determines the results.