You could try using triple buffer but not sure if it will make a difference in the game you're playing as its apparently only meant for Opengl based games. If its a D3D you're playing then have a look at this thread.http://www.guildwars2guru.com/topic/50705-triple-buffering/
Direct3d override will enforce triple buffering in D3D apps and might be the way for you to have less tearing and no lag. I haven't used it, so Vsync might still need to be enabled for triple buffering to work.
Higher the hertz in a monitor would also help, 120hz monitor would look awesomely better than a 60hz, a lot less tearing if the computer doesn't reach over that amount. But even with Vsync enabled on a 120hz monitor, the input lag would be near unnoticeable