Actual performance of the tire can vary significantly depending on conditions, but the tire's UTQG tread life number can help you get in the ballpark as to how long a tire will really last. Clearly if you live in, say, Washington or Oregon, you'll want to look more closely at a capable wet-weather tire than if you're in Arizona or Nevada. Be honest and knock down your required speed rating to, say, and H-speed rated tire that's still good for 130 mph. You'll pay less and likely not notice the difference in the real world. For reference, the most common speed ratings you'll come across on the majority of tires are shown in the chart below.
Speed ratings signify the safe top speed of a tire under ideal conditions.
For just about any street car, a V-rated tire will be more than adequate, unless the car will actually go faster than 150 mph. For those who want tires that make a car really stick in the twisties, it ends up that many get the speed rating anyway, even though they don't need it. That's not a bad thing, but also be aware that tires with higher speed ratings are usually made from a softer rubber compound and generally will have shorter UTQG tread life ratings and, furthermore, will not actually last as long in the real world. In general, a lower profile tire also exposes the wheel to damage more easily. Lower profile tires also have stiffer sidewalls, which improves handling but increases rides harshness.