You're probably right, I'm no expert and I don't know. It seems logical that it's a sliding scale: the lower the frequency, the less localized.
But a lot of people say "Anything under 100Hz can't be localized" — that's the whole logic behind the mono-sub and the common 100Hz xover point — and I know that's wrong because I can hear it clearly with stereo subs — but I don't know the exact point at which I can hear it.
We could determine that point with a frequency generator — I don't have one — but there must be tons of research on it. A simple google search. It probably also differs from person to person, and age may be a factor as it is with high frequencies...