Originally posted by: Matthias99
(say you're running with a 100 Hz refresh rate; the possible steps would be 100 fps, 50 fps, 33 fps, 16, 8, etc.)
Not true; it can run at any integer less than or equal to your refresh rate. It'll simply update "unevenly" -- you might see three out of every four possible frames, or two out of every three.
I don't notice any lag with vsync on, but I suppose it might introduce some if your system is already struggling to run a game. I'm not entirely sure how triple buffering would make it worse.