Incorrect; without triple buffering vsync reduces the framerate to fractions of the refresh rate. Or to put it another way, 30-59 FPS on a system with vsync becomes 30 FPS.
So yeah, thats probably his problem, especially in the more demanding cases which dont have many frames to begin with.
You need to prove what you said.
If you simply look af FPS, yes, vsync seems to hurt FPS, but it produces better scene. For example, lets assume the interval between frames is 1/60 second, and frames are delivered in 2.01,0,2.02,0,2.01,0,2.03,0 ... for a total of 60 frames in one second, the second frame of each interval may not have a chance to be displayed before the buffer is flushed, and there for losing a Frame every 2 Frame. However, without triple buffer, that frame is what causes tearing. Triple buffer will allow this frame to be displayed 2 interval after the frame is created, thus introduce what is known as input lag (you click a button, but the display doesn't show this change immediately, as if there is seem lag going on.)
Under this example, without vsync, Fraps will show 60FPS, while with it, Fraps shows 30FPS. If you simply look at the number, it is only have. However, if you think about it, without vsync, the video card is trying to send a frame that consists of 2 scenes fused together, then no frame for the next interval, so not only you get a bad frame, but that extra FPS count is a miscount as half of a frame was overwritten and a frame is only half drawn. Yes, the count shows 60 FPS, but you only see half of each frame.
All this may sound nerdy and no human will see this, but actually we do, especially when we focus our eyes on an icon on the screen. In MMO, CD is very important and we love to cast things back to back. Because human knows approximately how long is one second, we are able to signal our finger to click the button without a long input delay (this is another world of talks). During this time we can detect a 20ms delay from the time we click to the time the icon turns color (with is a time shorter than the input delay from your brain to your finger). This is, we will be able to detect if a game really plays at 60hz (not 60 frame a second, but display gets refresh at 60hz interval.)
If MMO isn't your cup of tea, guitar freaks or alike will do.