I don't even remember what I have mine at, but I changed some settings recently trying to resolve an unrelated fps problem (that has since been fixed) and didn't notice any stuttering when capping the fps while using a 120hz monitor.

I don't even know what the big deal is anyway, whether the fps is 60 or 120 I wouldn't even be able to tell you because my eyes can't tell the difference. Just like with DPS, people just love big numbers and think the higher their fps is, the better they play or something.