75Hz is how many times per second your monitor draws the screen yes... Although games say you are running at 100+fps you will only be seeing 75 (well, human eye is only something like 32 fps max) this does limit it if you have Vertical Sync ON... but if you disable Vertical Sync, it will almost (effectivly) force the monitor to draw faster than its refresh, hence giving a "cutting" effect on every few frames, and it looks like a tear in the picture.