Well, the fact remains that the TV manufacturers always make huge claims about the higher refresh rates. The best could be the 120 Hz refresh rate. There is not any specific performance improvement beyond that. Some Plasma TVs go as far as 600 Hz.
I would advice you to know the difference and choose the refresh rate wisely while watching the content. Refresh rates higher than the 60 Hz do provide a smoother animation, but the movements appear too fast. For some natural looking scenes, it could be a little annoying. In such cases, you would better watch the shows in 60 Hz.
But in cases of sports or such other faster motion videos using a refresh rate of 120 or even 240 Hz improves the effect. It will reduce the stutter and blur.
The thumb rule should go like this. If you are watching real people talking or in action consider disabling the higher refresh rates. That will avoid what is known as soap opera effect. While if you are watching sports or animations, switch to higher refresh rate. Even the gaming will need you to switch to high refresh rate.
Higher refresh rates would not offer any added information to your videos. A maximum of 120 Hz rate could be better in certain situations. But a rate beyond that may not be beneficial in any way. But do not go beyond 120 Hz. It would be nothing more than mere gimmick.
Live....and Let Live!