Frame Per Second

Figures come first.

NTSC : 29.97fps
PAL: 25 fps

720p30 : 720p video at 30 fps
720p60 : 720p video at 60 fps

Modern video cards, often featuring NVIDIA or ATI chipsets, can perform at over 160 fps on intensive games such as F.E.A.R.

However, an average 17" CRT monitor can reach 85 Hz, meaning that any performance reached by the game over 85 fps is discarded. And LCD monitor works at 60Hz.

For 30 fps, time between 2 frames = 1000ms/30 ~33ms
For 60 fps, time between 2 frames = 1000ms/60 ~16ms
For 85 fps, time between 2 frames = 1000ms/85 ~12ms

Here come the question, what is the purpose of having a so-called 2ms response time LCD?

ps: 2ms is not the real figure of response time of a pixel between switching one and off.