all I did is go the opposite way and change it into Hz.., which is better for me since I have used CRT's at all sorts of refresh rates, including 60hz which when it doesn't flicker, runs perfectly for games..
I have a 17" gateway EV700 (I think that is it) and it runs at a top resolution of 1280 × 1024 at 60hz and it works perfectly like that about ~97%, sometimes its starts flickering so I bring the res down to ~1100 X whatever.., and then it runs fine...; ussually I switch back in 20 min or so..

anyways, 60hz works perfectly for games, but I have no idea how it would look with only 40.., so I am going to ask my friend who has a 17" LCD what his response time is, or rather what his model is cause I doubt he would know what the refresh rate is...; I was playing UT2k4 on his machine and the LCD ran perfect cept for the pixel he has that is always lit red...