Thanks. So if I understand this approach correctly, you leave VSync on, plus use Triple Buffering?
You can leave it on yes, but D3Doverrider will force it on even if you turn it off, so that Triple Buffering works as intended.
Triple buffering is exactly what it says, three buffers are used to render the image and send it to the screen. Not only does this remove screen tear issues, but this also makes the way the image is sent to the screen, completely smooth. DirectX does support triple buffering, but it has to be enabled by the game developers in their code, so what D3DOverrider basically does is force the feature on in DirectX regardless. It has worked beautifully for every game I have and has made a huge difference to games that tend to get mouse lag and stutter, such as Borderlands on PC, and Oblivion (or any Gamebryo engine game).
Sadly it is not part of an individual install, but you can easily get it as part Rivatuner. http://www.guru3d.com/index.php?page=rivatuner
While this is ATI only, the D3Doverrider is placed in the Riva Tuner install folder as an extra, and can be dragged out separately and run on it's own and Rivatuner can then be un-installed with no fuss. Just run the D3Doverrider.exe from the folder and it does it's thing. I actually have an Nvidia card, and the software works with the newer Nvidia drivers (I found it didn't with the older ones). When you run the game, you will hear a ding, which says D3Doverrider is working. I personally keep a separate copy of the D3D folder for future reinstalls.
The frame rate is locked to a max of 60fps, but that is because of the way triple buffering works, while some people equate better performance with higher frame rates, you can still get screen tear. Triple buffering offers the best of both worlds as explained in detail in the Anandtech article. For me personally, I find it makes a big difference.