(Same... I know people use them to get some pretty effects; but, they add a frame of latency I do not want and require lots of memory and assume acceleration I don't need.)
There is no way to avoid a frame of latency without "racing the beam", which AFAIK quite complicated and not compatible with most GUI frameworks. That is, if you don't want tearing.
One frame of latency and adding a frame of latency are different things. The first is required (without tearing) the second should be avoided at all cost (athough high display refresh rates reduce the problem of "long" swapchains quite a bit).