Thank you two for your replies.
Yes, I do see that VSYNC does help quite a bit. There's no more tearing....just lag now.
I did notice though that with VSYNC enabled that the games don't get over 40 FPS very much.
Guess I need a new card to have decent smooth performance and reduced eyestrain.
Edit: Sorry, forgot to say that 60hz is as high as the monitor goes for refresh rate.