The differing of opinion here is not in the facts! Thats excellent. Its in whether or not that fraction of a second actually means anything.

As toby said, if you want to see it, you will. Mathmatically there is a gain. Whether or not you will see real world improvements in performance, I couldnt tell you because I dont have the equipment to measure that... maybe someday or when one of my teachers lets me borrow the needed equipment.

I do know my lights dont dim as much with a simple 1farad stiffening cap... that had no blinking lights =( I also know if you hook it up backwards it loses a great deal of its capacitance and makes a big spark.