Well one thing to keep in mind is, your eyes get "used" to things. If you sit and stare at a 120hz crt all day, then change to a 60hz screen your eyes would have become accustomed to 120hz. You should notice over time of only using a 60hz panel that you'll become more accustomed to it, you'll slowly adapt to it and find it much better.
As with most things you get used to them, i've been using lcd's for ages, but the first time I got one I dumped one of my crt's(a 23" behemoth) and kept my illyama 120hz 1600x1200 screen. The big issue I had is because I was looking over at my crt for watching film while playing games, I wasn't really adjusting to 60hz lcd's and I found my eyes started to find both screens horrible. AS while i was used to the llyama, all the time I spent on the lcd made me not used to either anymore. The crt flicker/eye strain hurt and the 60hz lcd strained my eyes in games.
When I finally got a 2nd lcd and ditched the crt, slowly I got more used to lcd's without ever using crt's anymore. Such is life, you can adapt to most things as long as you generally stay using the same thing.
its also worth bearing in mind that if you get a high quality panel with a high quality vga input(lots of cheaper screens use very cheap vga connector and conversion chips so vga looks crap, while a super high quality shielded vga cable and good screen for it can look as good as DVI), as VGA you can often on many screens run at 75hz. Only dvi is limited to 60hz in general. But often you get so much interference and so often crappy quality vga inputs, that the picture looks horrible compared to dvi. I just wish someone was out there making fantastic thick ultra shielded cables and were testing which screens had equal quality vga to dvi. Ok, its still not 120hz, but its a pretty big improvement.