It appears that I may have under estimated the power of the mobile processors, and/or the actual speed of GM created games, even without the YYC.
I changed the room speed from 30 to 60, frankly because it was taking too long to spawn the objects, and because the frame rate wouldn't go down. So it starts at a constant 58-60 FPS, which seems normal. It doesn't begin going down until like 260 instances. These instances are all pixel perfectly checked for collision, as in, not that some are shapes, rather all pixel perfect.
I'm running the same test, making two of the colors to be a box shape, and leaving one to be pixel perfect, which seems like it is closer to what you would be doing with your bullets and zombies, and I get up to like 320 instances before it starts slowing down. I'm not going to do it, but I imagine if it was only shapes colliding with sprites(pixel perfect) it would be much faster, but since there were still some doing pixel perfect checks on both instances, it wasn't as fast.
The last one I'm doing is just to see what it is, with all of the sprites using a simple box test with each other. In this version, I didn't see any slowdown until I got up to around 420 instances.
I'm currently uploading this to my dropbox, as the forum software will only accept files less than 2MB each individual file. It takes up to like 50MB total, but only 2MB per file, and the apks are over 10MB as it is. Don't worry much about that, because that is the size with the engine, etc... included, and so it doesn't increase massively with just a few sprites.
The one I uploaded with just changing the room speed to 60 FPS is here, and the one that is changed so that two sprites are using boxes, and the third still using pixel perfect collisions is here, and the last one is here.
Based on these tests, I'd say for mobile, unless you are going for slower devices, you are probably fine. In fact, for the amount of things you are going to have, you may still be fine on older devices, to an extent. The one thing that worries me is the HTML5 versions. If you intend to export to HTML5, I recommend you do some tests on it to see how much you get, as Javascript running in browsers I believe is likely to be slower than native code on Android, though I could be wrong about that, and of course it depends on the hardware running the Javascript, as well as the browser. I've been told that Chrome is much faster the IE and firefox, but I haven't done any extensive tests myself to confirm this.