Feel free to correct me.
EDIT: Actually let me correct myself first as I've just re-read my post and noticed a couple of basic errors.
1 - obviously triple buffering would eliminate tearing since it's a for of vsync duh. Had a brain fart on that one.
2 - I did think triple buffering drops the framerate from 60 to 40 and then 20 as opposed to 60 then 30 then 15 of double buffering but perhaps I'm wrong there. Thinking about it I'm not even sure myself how that could work since the monitors refresh rate can't change to 40hz!
3 - Just to clarify what I said about the PC version, I mean that with vsync on, the framerate will cap at 60fps but vary greatly below that. Obvously with vsync off it will vary above 60fps as well. The thing is that with vsync on (double ot triple, it doesnt matter), when framerate falls below 60 fps it doesn't go straight to 30fps, it varies just like we're seeing in the PS version, hence why I assumed an adaptive vsync is being used.
I hate to point this out again, but you are completely lacking any technical knowledge on the subject that you are talking about.
Double / triple buffer has nothing to do with the specif frame rate which the game rendering at. The are meant for preventing tearing by rendering a full frame in the back and then flip over to the front for display output. You don't need to monitor to refresh at 40Hz to render a game at 40fps, you just render some of them every 33.3ms, and some of them 16.67ms, and add up to 40 of them, in a second, and again, has nothing to do with double/trible buffering, and also, this is not what adaptive vsync is.