I can't speak for audio lag, but for video game latency, i'm extremely sensitive. I've done numerous comparisons between my Older CRT which has input lag in the micro seconds, to even a 16ms HDTV. and there was clearly a difference in comparison to gaming on a CRT. On a CRT, you feel like you're 'one' with the controller as hilarious as it sounds. things are so ridiculously on the dime and responsive,, quick and snappy. the 16ms HDTV? felt fine, i guess, sort of?...There was still a bit of a delay with jumping in platformers for example, and what was even more noticeable was how motion pointer controls felt. Godly on a CRT, but just decent to good on the 16ms HDTV.
Again, i dont know how that translates to audio. Mind you, i've had audio delays when sending an HDMI video signal to my receiver and straight to an HDTV. this delay was never noticeable on my older Sony wega CRT. these days i just send an audio signal to my receiver and send the video signal to my TV to by pass any additional picture processing and latency. But again, i'd love to do away with the receiver all together. i'm in an appartment, so a surround sound speaker set up is out of the question as well as a soundbar surround sound system. I'm rolling with with a pair of DT770's plus my receiver, or just using the TV speakers for casual watching.