Yep you're right, although most songs are under 300 bmp.
Also if your tempo is over the limit and you don't need to use triplet semiquavers/sixteenth notes you can multiply both the tempo and note lengths by 3 and then half them.
If you don't need to use triplet quavers/8th notes then you could afterwards divide them by four instead.
So it's possible for a song of 1332 bmp to have triplet crotchets/4th notes by multiplying everything by (3/4).
Sorry, am I rambling on? I'll stop now.