Variable frame rates is a different issue. For example, reacting within 100ms feels instant, whereas an animation running at 10fps (one frame every 100ms) looks awful.
With interaction response, the faster the better.
With interaction response, the faster the better.
Seriously, there are tons of studies on this. I am not making it up.
Overall I'm not sure how I feel about this topic myself but I do understand jblow's point and somewhat agree with his rant.