The basic issue with Vsync is that you FPS is tied to your display's refresh frequency. Most displays these days have 60Hz, hence your FPS will be 60 FPS.
The trouble starts when your GPU cannot sustain rendering 60fps. In this case FPS will be cut in half, and drop all the way to 30fps (60/2=30) (which is pretty bad).
Triple buffering allows to use hardware more efficiently. If your GPU could render, say: 50 fps, you'll see benefit of it (it won't drop immediately to 30fps).
That comes at a cost of increased input lag (which is quite noticeable, and prevents any competitive shooter gaming).
When you've got a good GPU, a very good idea is to get a "3D" monitor (or projector in my case).
These displays support 120Hz. That makes Vsync work at beautifully fluid 120fps, and when you GPU can't sustain it, it drops to 60fps, which is still great.