We have rationally designed two-dimensional Au and Ag hole arrays for high performing surface plasmon resonance (SPR) sensing. The figure-of-merit (FOM), which is defined as sensitivity/linewidth, is found to be highly geometry-dependent. For sensitivity, we find it is equal to the period of array when exciting low order surface plasmon modes at low incident angle. Therefore, increasing period improves sensitivity. On the other hand, narrow linewidth can be obtained from small hole size so that the radiative decay loss is minimized. By using a pair of orthogonally oriented polarizer and analyzer, the signal-to-noise ratio (SNR) can be greatly enhanced due to the elimination of the nonresonant reflection background. As a proof of our strategy, we have obtained FOM larger than 100/RIU and SNR higher than 110 from Au arrays. Our results show the importance of understanding the basic properties of surface plasmon polaritons in order to systematically optimize the performance of the plasmonic system for a given application.