FPS Framerate

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(Mine stops at 75 fps with my current FPS calc)
This is most likely because you are using the Flip (True) command (the True is assumed) and you have your monitor's refresh rate set at 75.

Can I run my game in a FPS of 500+? How to do that?
Yes, just set TargetFPS to 500. However, in MOST situations, this is absolutely unnecessary. There would be very few scenarios where you would want to achieve something like that.
Usually, you will set it to something like 30,60,70,(100,120 maybe). But remember that your game will still only update as fast as the FLIP command is allowing it to. In other words, if the user has their monitors refresh rate set to 60 Hz and you are using the Flip (True) command, then your game will only update at 60 FPS regardless of how fast you would like your logic to run. You could allow it to run faster using the Flip (False) command but that may cause visual artifacts, such as tearing.

I normally set my games to run at 60 Hz.

What different does it make in the end?
I could go on and on about why you would or wouldn't want to set it at certain speeds, so I won't. Just suffice it to say that something between 60-120 is usually good because it's fast enough to create the illusion of fluid motion and it's slow enough that the computer can keep up.