Supposedly Minetest supports all meshes and textures that irrlicht supports. Personally I've only tried .x, .b3d, and .obj
http://irrlicht.sourceforge.net/features/Since Blender defaults to quads, that is what I've been using and Minetest doesn't complain. Triangle make my head hurt with Blender.
Polycount? Like any game... low is better. There's a lot being drawn in Minetest. A bit of a shame as all those voxels are drawn. If you aren't going for smooth curves you will be fine.
Blender unit? I've forgotton. I'm convinced it makes a difference depending on what format you are exporting. Others here have debated with me. Make your basic block .5 rather then Blenders default 1 and it will be less confusing.
Make sure normals are set correctly before export. Minetest is picky about them.
Make notes. Minetest/Blender documentation is scarce and spread all over the place. Maybe your notes will help yourself AND us in the future. I have at least 3 files I've made with Minetest/Blender notes, and I'm kicking myself that I don't know where I've put them.