Also, when Calamity said "sub-frame latency", how many milliseconds are we talking about?
Sub-frame latency is another way to say next frame response. In ms, it's whatever is below 1 frame (around 16.67 ms). This means there is a chance that input registered in the current frame has an effect on the next one.
A VRR monitor can have as low latency or even lower than a CRT, and without the need of frame delay. Freesync/G-sync is equivalent to "frame delay 10".
Here you can see the results I got some time ago on an LG with Freesync, the measured latency end-to-end is around 4 ms.
https://github.com/mamedev/mame/pull/5901On a CRT with a high frame delay, I've measured around 4.5-4.7 ms. But this is on ideal conditions.
Anyway the absolute minimum is determined by the amount of time it takes to emulate a frame. So if one frame takes 5 ms to be emulated, the end-to-end latency will be 5 ms + the rest of system overhead.
So the values above were measured on a game that is emulated very fast (sf2, at least it was fast back in 2019, not so much nowadays), thus allowing a high frame delay value.
The emulation time affects every setup, it's not a display thing. It's just that with a Freesync monitor, you don't need to manually find the the frame delay value. Freesync is like automatic frame delay.
GroovyMiSTer implements automatic frame delay. With GroovyMiSTer I've measured latency around 3-3.5 ms on a CRT.
Anyway I wouldn't trust an LCD monitor reported figures unless I measured it directly. They are much like a black box.