"Five words are breakable with a thousand or so PCs equipped with high-end graphics processors (criminal gangs with botnets of infected PCs can marshal such resources).
Six words may be breakable by an organization with a very large budget, such as a large country's security agency. Seven words and longer are unbreakable with any known technology, but may be within the range of large organizations by around 2030. Eight words should be completely secure through 2050."
This type of estimates is relevant for brute force attacks, it's very hard to estimate how efficient a smart dictionary attack is. It very much depends on the size of the dictionary used for picking the words and if the words are picked in a truly random manner... which I really doubt because people will probably tend to pick short, common words that are easy to spell and memorize.
"Five words are breakable with a thousand or so PCs equipped with high-end graphics processors (criminal gangs with botnets of infected PCs can marshal such resources). Six words may be breakable by an organization with a very large budget, such as a large country's security agency. Seven words and longer are unbreakable with any known technology, but may be within the range of large organizations by around 2030. Eight words should be completely secure through 2050."
http://world.std.com/~reinhold/dicewarefaq.html#howlong