Carsten,
you could always work with a maximum number of waitstates on a flash device, it will work, but it's not required.
Required is the number of waitstates specificed for specific system frequencies.
And here the User's Manual is clear, for 60MHz and above (= max 72MHz) the waitstate number needs to be 4 to work reliably.
You can set it to 5 or 6 or 7, it will work, but with significantly less performance.
Regards,
Bernhard.