Yeah at 120hz each frame is 8ms. So you're only missing a single frame around 30% of the time.

I certainly want my latency as low as I can get it. But I'm pretty skeptical that anyone is truly feeling the difference of a couple ms.

Try musicians that are used to playing extremely high speed semihemidemisemiquavers.

We notice latency. Neil Peart could almost get sample-precise timing, he was so godlike.