V-sync sets your maximum frame rate to your monitors refresh rate.
If your monitor is set at 85Hz, your max frame rate will be 85fps.
This stops "tearing" which can happen. Tearing is caused because the gfx card sends info to the monitor, at a time when the monitor isn't refreshing, so you get 2 frames mixed up and it's all garbled.
V-sync (vertical sync) means that for every refresh of the monitor you have, a frame appears on the screen, so the frame is displayed in sync with the monitor refreshing.
Normally 85fps should be smooth anyway, and you wouldn't really need anything above it.
It's only the maximum fps though, it will rech up to 85fps, but that doesn't mean it'll stay there
It can be worth it if you do notice problems while playing a game.
Try with it off, if you have issues, put it on and see if they go away.
It doesn't alter the frame rate as such, just gives it an upper limit equal to your refresh rate.