Agree with what wills has said,
Any amounts above 0 really are bad for your fish, each species of fish will react differently to ammonia presence, obviously some will be more tolerant than others hence the 'hardy' tag some fish get.
Ammonia damages the gills, whereas nitrite damages the nervous system, at levels of around 0.25ppm, prolonged exposure would slowly cause permanent damage, whereas from what I've read in the past it seems that levels as low as just 1.0ppm CAN cause permanent damage in as little as 1 hour, note I said can and not will.
You can see how important it is to keep the levels as low as possible during a fish-in cycle, and in a fully cycled tank the levels should always be 0 anyway, if they are not then that indicates a problem somewhere.
Andy