Your desktop has VSYNC set to on by default (Win7) So are you seeing mouse lag there? Pick up a window and move it around the screen.
Make sure you turn off all the silly acceleration features on your mouse driver. Try and keep the mouse driver as vanila as possible. Remove any logitech software etc.
Make sure your screen refresh rate is set to 60hz (unless you are a dinosaur and still have a CRT or a lucky git and have a 120hz LCD)
Set Triple Buffering to on, and leave VSYNC on via the driver and then install and run DXOverrider and test using VSYNC on and Triple Buffering using DXOverrider, instead of the drivers. See if it improves.
If a game allows a refresh rate of 59hz, (COD as an example) set it to that, see if your mouse lag goes.
I find that with a little playing around, i get very little to no mouse lag, and get all the eye candy of no tearing.
Personally, I can't understand how anyone can put up with the tearing myself? It looks pretty nasty, and has such a detrimental effect on the game..
Horses for courses I suppose.