If your FPS is over 60 you *CAN'T* see a difference between vsync on and off (and there isn't any lag, either).
My performance in TF2 is totally affected if I play with vsync on than without it, and with vsync on my framerate is pinned over 60fps at all times. The difference feels absolutely massive, even if the game does look a little better with vsync on.
Again, great for single player games, no so hot for fast action multiplayer.