The flickering when the game minimizes is just from how DirectX is switching resolutions; I don't think the refresh rate would make any difference with that.
By larger field of view I meant you would be able to see farther. At a low resolution everything is larger so you only see the area immediately around the character; at higher resolutions you can see more of the surroundings, which is better for exploring and dealing with enemies. While you loose some detail in characters and objects at higher resolutions, when they are smaller, probably the main limit on resolution would be whether text is still readable or not.
