Hi Andrew,
Because there are so many variables that impact on image quality and a digital sensor array does not respond to light the same way that film does, we are sort of comparing apples and oranges when we talk about film-digital comparisons. The following procedure, however, will give you a fairly good way for you to determine how many megapixels you may need to fullfil your needs.
If we accept that the average human eye can resolve ?180 pixels per inch at a 12" viewing distance, and if we also accept that when we increase the input resolution of the output to 200 pixels per inch, the output will look continuous tone, we have our constant to start our calculations.
First, we determine what is the largest print we want make to be viewed at 12" away and to appear to be "film" quality"(continuous tone). Let's use 11x14 for an example. Multiply 11x200, 14x200, multiply the products together to arrive at the number of pixels we need.
(11x200)(14x200)=2200x2800=6,160,000
Therefore, we need a 6 megapixel camera to output an 11x14 print to be viewed at 12" away and appear continous tone.
Keep in mind that larger prints can also be made and appear just as good as long as the viewing distance increases appropriately as the print size increases.
I hope this helped.
Arthur