Originally Posted by
Bigslick
This is inaccurate. The hit cap, unless you choose for some ill-advised reason to not pick up the talents contributing hit, is 289 for Horde. It is also 289 for Alliance - unless, as Lostprophet indicated earlier, you are, or have in your party, a Draenei. This is due to the Draenei racial which provides 1% hit to themselves and their party.
If you are not Draenei, you should strive to meet the 289 hit cap for raids. This way you don't have to be concerned about misses should you find yourself without a Draenei in your specific party (since it is not raid-wide) due to the way the groups are distributed, range from that player in some encounters, or their early death in a fight.