Yeah, 60Hz on a CRT is really eye painful. Usually at least 72Hz was needed on anything 17" or larger to make it easy on the eyes.
The problem is not all the video card, the problem is the monitor. You need to find the correct drivers, well actually it is not a driver at all, but an .inf file that simply supplies all the modes and settings that your monitor is capable of supporting to the OS and video card drivers. Once you have installed this tidbit of a file to your system, then all the modes your monitor is capable of displaying will be available. There also may be a box in the video driver screen somewhere that says something like "hide modes not supported by my monitor" You may uncheck this, and then you will get all modes available. But, be warned, that if you choose a refresh rate higher than your CRT can support, you can instantly ruin it. That is why that box is checked, and that is why if your computer doesn't "know" what your monitor is and what it will support, it only allows you the standard low 60Hz choice.
Go to the maker of your monitor's website and find and download the "drivers", or .inf file for it.
But to that end, I don't think there ever have been drivers released that are Win 7 compatible, so yeah as others have stated, upgrading to Win 7 on system this old was not the thing to do. You should go back to using XP or whatever you have before, and if you really like Win7, well you need to get a newer PC.