chris_shadez :
standard HD should be fine at 60Hz or 60-75Hz, some Displays support 120Hz but this is only really used for 3D or hard gaming on large screens
At 1080p it is 60hz. Though HDMI 1.4b does allow frame packing for 3D up to 60hz which does have the monitor updating 120 times a second due to displaying both right and left images, but the monitor still only accepts 60 packets per second, it just gets both the right and left images in a single transmission, then splits it into two frames on the monitor.
Now it can get more confusing with the absolute latest hardware. HDMI 2.0 is going to allow for 120hz in 2D and there are some very new monitors with it, though they are all 4k as far as I know, which is limited to 60hz at that resolution and GPU's don't have support for HDMI 2.0 yet. But then Nvidia just released a driver that can allow 60hz over HDMI 1.3 or newer through compression, but only if connected to a HDMI 2.0 monitor.
Confusing times ahead.