(This post will be posted in the OP)
UPDATE 2: Here is more pics of the VG248QE strobing, except this time with ULMB Mode (I personally moded the monitor with the G-Sync Module).
NOTE: Again, this is to serve the purpose of comparing Ghosting/Crosstalking/Overdrive effects to other strobing methods that I have done. So far, this is my third strobing method that I have tried. Also, since G-Sync & ULMB can have calibrated colors (Thanks to SoftMCS), the settings are: 120Hz ULMB Strobing, 100% Brightness, 84% Contrast, and RGB of 96 96 88).
Now, onto the pics!
Here is 1 pic of the TOP of the screen. Hardly any sort of Overdrive effect/Ghosting
http://imgur.com/jtLGtmT
Here is 2 pics of the MIDDLE of the screen. ESSENTIALLY NO GHOSTING/OVERDRIVE
http://imgur.com/9KeONwa,1axEUtb#0
http://imgur.com/9KeONwa,1axEUtb#1
Finally, here is 1 pic of the BOTTOM of the screen. Unfortunately, the overdrive effects are noticable

However, because they are towards the bottom of the screen, I don't even see them during any sort of game that I play since I always keep my eyes centered most of the time, which is still fantastic!
http://imgur.com/MAUMKGz
Overall, I am quite impressed that using ULMB produces similar results to LIGHTBOOST in terms of the ghosting/crosstalking/overdrive effects (albeit, the bottom of the screen wasn't too good, again, it's not even noticable during gameplay). It is also really awesome that the colors are now great for ULMB thanks to SoftMCS that allows Color Calibration for both ULMB and G-Sync modes! The colors are abit better in my eyes than the XL2411Z I did own.
It is abit unfortunate though that the persistance level cannot be varied like the Z-Series of monitors from BENQ or LIGHTBOOST in order to have a more vibrant/bright screen or crisper motion (I prefer crisper motion). However, having the ability to do G-sync OR ULMB are nice options to have. I've briefly tried out G-Sync in a few games (Black Flag and Titanfall), and it works quite well. Now, people have already said that G-Sync cannot fix In-Game or Game Engine stutters, which holds true to my experience. So as of
UPDATE #2, I am currently rocking out with a G-Sync Modded ASUS VG248QE!
If I had to put the ULMB in a bucket in terms of its ghosting/crosstalking/overdrive effects, I would say that it is in between the XL2411Z's Blur Reduction and VG248QE's LIGHTBOOST (closer towards LIGHTBOOST, especially when it comes to the TOP and MIDDLE of the screen).
Again, I hope that my entire analysis of various strobing methods (Benq XL2411Z Blur Reduction, VG248QE 10% LIGHTBOOST, and now VG248QE ULMB) has been very helpful, as I have had an awesome time comparing them!!!