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Vsync is irelevant on a 120hz monitor as the tearing is so fast you have to really look for it to notice it, so that is off. Obviously having 120fps is ideal, looks great in TF2.
Surely you wouldn't get tearing until constantly hitting over 120fps![]()
Depends on the game. Ideally 50-60, but some games e.g. Crysis are playable at 30+.