So let's begin with a few thoughts of mine:
1) Suprisingly my unit doesn't turn OFF the VRB setting after closing a Windows 10 session as some people stated earlier - tested after completely shutting down Windows as well as restarting the operating system.
2) At 70 Brightness, Overclock ON, 390Hz I do not have any black flickering as shown in the video of the guy playing Counter-Strike Global Offensive when it occurs to him.
3) I also have Overdrive on Normal and VRB on Extreme and it indeed looks amazing - the image is so flawless

4) I yet have to try changing the Brightness to the maximum level to see if any flickering on 390Hz will happen eventually (on 70 Brightness, 50 Contrast, Overdrive ON, VRB Extreme, 390Hz in Nvidia Control Panel there's just no such thing).
5) The black equilizer setting is quite handy and does help a lot in CS:GO, that's a fact.
6) I do not have the hardware equipment to measure the input lag of this monitor exactly, but let me tell you guys it has to be really low. It's hard to explain but this monitor is so fast I feel like the display is one with the movements of my hand. I compared the responsiveness with my previous Benq Zowie XL2411Z and the difference is night and day in favor of Acer.
If I come across any bugs or strange monitor behavior I will update you guys asap!