Yap, the single frame implementation should save 16.7ms (compared to a regular 30fps game) because the dynamic geometries are rendered at 60fps for real. If there are other more time consuming tasks in the critical path, then the input lag should be as good as a regular 30fps game (i.e., no 16.7ms saving).
In both cases, the user will see smoother (60fps) animation thanks to the technique.
In both cases, the user will see smoother (60fps) animation thanks to the technique.