You also have to have (under Tools --> Options --> Video --> Display Settings), "Enabled Automatic Display Settings changing" checked & the correct settings that are supported by your Video Card / TV (and potentially Receiver). The aim is to match the refresh rate with the FPS of the content as best you can then Video Clock will smooth out the rest. I use:
* Film (both 23.97 & 24fps): 1920x1080x32x24
* NTSC (29.97/59.94fps)): 1920x1080x32x60
* PAL (25/50 fps): 1920x1080x32x50
If your equipment will not do 24hz then you will have to set it to 60hz and live with the judder.