How many frames can human eye see?

Different parts of the eye have different response speed. The corner of your eye doesn't see color, but is fast; the center sees color, and is slower. This means that when you look at a 60 Hz monitor straight-on, the image is perfectly steady; but when you look at it from the corner of your eye, it is flickering. As you go to even higher frequencies of refresh, even the rods don't respond fast enough.

This make sense from an evolutionary perspective. When the saber-toothed tiger jumps at you, you need to know about it - quickly. You don't need to know its color. So using the faster rods (sensitive, fast, no color sense) in the edge of the field of view is a good survival strategy. But since we can't move very far in 1/100th of a second, there is no need for sensors that respond at that speed.

The difference is real, and can be perceived. In the corner of your eye, for most people.

Incidentally, the rendering of fast motion is helped by the higher frame rate; if you show a bright object against a dark background moving left-to-right across the screen in 1/30th of a second, the brain will notice the difference between "two images comprise the full motion" and "four images comprise the full motion", even if you don't really perceive the individual frames. You will see a smoother action when more frames make up the motion: after all, in real life you really see "infinitely many frames" even though they blur together.