Umm yes that's sort of my point, esp when you start talking about the rate at which you can "see" flicker you need to be clear about the difference between consciously perceiving and autonomic perceiving and being effected by.
When you're talking about image motion and flickering (both perceived and autonomic) you also need to include distance, because that has and effect, the closer to the screen your eye is the longer the cycle time perceptually appears to be.

And I'm agree with you on the led control, btw.