Yes it does, VSYNC synchronizes the horizontal and vertical frames - it does not matter the type of monitor. Without VSYNC on an LCD, you will see "tearing" of the images if for instance you move the mouse around quickly in a game.vsync only improves graphics on CRTs, it has no effect on LCD monitors.
It's true that LCD's don't have a refresh rate like CRT's do, but VSYNC still makes a difference when it comes to syncing the horizontal and vertical frames.Really? I think somewhere I read that it only works for CRTs as LCDs don't actually refresh the image the way CRTs do... or something along those lines. O'well... I've never seen any kinda tearing on my LCD.