Well took some time out of sleep and tried it out correctly this time. Adjusted ISO speed to catch more squares and it does Frame Skip even at 70 Hz. Unless I did something wrong with my ISO speed, I caught 8 squares this time as per your example above.
70 Hz Refresh Rate
EDIT: Will try gaming next weekend with V-sync on as I played with V-sync off in my video I took of BF3 that was smooth.