Need to know how many poly can a player model hold in v12?

#1 The max poly counts for Tribes 2 models are:

Player models-1500
Weapon models-650-700
Vehicle models-1200

We would also suggest that you refer to existing shapes and use those poly count numbers as that objects limit.
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This is from a Document released by Dynamix at:

www.tribes2centraldownload.com

#2 I dont know what the safe poly threshold for V12 is but I thought I would reply anyway. I've worked with quite a few engines and I've seen some be able to push some high polys. However, my experience with making 3d games is that you always want to keep your polys as low as you can from the get-go while still retaining the detail neccessary to make it look good. However, V12 being a 64 player engine, you have to keep in mind that at 2500 polys, thats 160,000 polys just for your player models alone. Add on top of that vehicles, terrain and shapes, the poly count could fly off the scale of what would be comfy for V12 and cause serious frame rate degradation. And I seriously doubt that V12 or any engine (at least ones I've worked with) could handle 160,000 polys if by chance all players were condensed in the view frustrum at one time.

I would recommend trying to keep your highest detailed player models down as low as 400-600 polys. The trick to this is to make the model resemble the shape desired and to do the detailing in the skin and not with polys.

Just my opinion from experience. Hope it helps.