To be honest I don't see how it makes any difference, I used to fly with it off to help Frame Rates on my old PC but since upgrading to an XP2600 & 9600pro this is no longer necessary. Personally I noticed no difference other than no "Tearing" of scenery etc when changing views quickly.
As a monitor is an output device rather than input device I do not see how it can cause "Rubber Bullets", it's showing you what the PC is registering, not telling the PC what happened. If you do not see the hit because the frame is not rendered it does not mean it did not happen. The only case for saying Vsync on is better other than the much smoother rendering etc is you might subconciously adjust your aim to correct an apparenty "missed" shot because you did not see it but I think it still happened.
I know many who know far more than me about PC's say different and are probably lighting thier torches for the "Flamefest" already but if so can someone explain to me how an output device can do this.
TTFN
snafu