95/99 = 96%
For contemporary naturally-aspirated, two-valve-per-cylinder, pushrod-engine technology, a VE over 95% is excellent, and 100% is achievable, but quite difficult. Only the best of the best can reach 110%, and that is by means of extremely specialized development of the complex system comprised of the intake passages, combustion chambers, exhaust passages and valve system components. The practical limit for normally-aspirated engines, typically DOHC layout with four or more valves per cylinder, is about 115%, which can only be achieved under the most highly-developed conditions, with precise intake and exhaust passage tuning.
Generally, the RPM at peak VE coincides with the RPM at the torque peak. And generally, automotive engines rarely exceed 90% VE. There is a variety of good reasons for that performance, including the design requirements for automotive engines (good low-end torque, good throttle response, high mileage, low emissions, low noise, low production costs, restrictive form factors, etc.), as well as the economically-feasible tolerances for components in high-volume production.
http://www.epi-eng.com/piston_engine...efficiency.htm