Precise Pangolin - x64
Fresh Install
Nvidia Proprietary driver 
  Package: nvidia-current 295.40-0ubuntu1
  Package: nvidia-settings 295.33-0ubuntu1

Also affected by the bug.

I twicked the xorg.conf with no success.

I have:
xorg.conf
__________________________________
Section "Monitor"
#   HorizSync source: edid, VertRefresh source: edid
    Identifier     "Monitor0"
    VendorName     "Unknown"
    ModelName      "Nokia 446Xpro"
    HorizSync       30.0 - 107.0
    VertRefresh     50.0 - 150.0
    Modeline       "1280x1024"   157.50   1280 1344 1504 1728   1024 1025 1028 1072 +hsync +vsync
    Option         "DPMS"
EndSection

Section "Device"
    Identifier     "Device0"
    Driver         "nvidia"
    VendorName     "NVIDIA Corporation"
    BoardName      "GeForce 210"
EndSection

Section "Screen"
    Identifier     "Screen0"
    Device         "Device0"
    Monitor        "Monitor0"
    DefaultDepth    24
    Option         "TwinView" "0"
    Option         "TwinViewXineramaInfoOrder" "CRT-1"
    Option         "metamodes" "1280x1024_85 +0+0"
    SubSection     "Display"
        Depth       24
        Modes      "1280x1024_85.00"
    EndSubSection
EndSection
________________________________________


/var/log/xorg0.log shows:

[  1569.781] (--) NVIDIA(0): Connected display device(s) on GeForce 210 at PCI:6:0:0
[  1569.781] (--) NVIDIA(0):     Nokia 446Xpro (CRT-1)
[  1569.781] (--) NVIDIA(0): Nokia 446Xpro (CRT-1): 400.0 MHz maximum pixel clock
[  1569.800] (**) NVIDIA(0): Using HorizSync/VertRefresh ranges from the EDID for display
[  1569.800] (**) NVIDIA(0):     device Nokia 446Xpro (CRT-1) (Using EDID frequencies has
[  1569.800] (**) NVIDIA(0):     been enabled on all display devices.)
[  1569.825] (II) NVIDIA(0): Assigned Display Device: CRT-1
[  1569.825] (II) NVIDIA(0): Validated modes:
[  1569.825] (II) NVIDIA(0):     "1280x1024_85+0+0"
[  1569.825] (II) NVIDIA(0): Virtual screen size determined to be 1280 x 1024
[  1569.841] (--) NVIDIA(0): DPI set to (90, 96); computed from "UseEdidDpi" X config
[  1569.841] (--) NVIDIA(0):     option
[  1569.841] (--) Depth 24 pixmap format is 32 bpp
[  1569.841] (II) NVIDIA: Using 768.00 MB of virtual memory for indirect memory access.


[  1569.845] (II) NVIDIA(0): Setting mode "1280x1024_85+0+0"


[  1569.880] (II) Loading extension NV-GLX
[  1569.900] (==) NVIDIA(0): Disabling shared memory pixmaps
[  1569.900] (==) NVIDIA(0): Backing store disabled
[  1569.900] (==) NVIDIA(0): Silken mouse enabled
[  1569.900] (**) NVIDIA(0): DPMS enabled
[  1569.900] (II) Loading extension NV-CONTROL
[  1569.901] (II) Loading extension XINERAMA
[  1569.901] (II) Loading sub module "dri2"
[  1569.901] (II) LoadModule: "dri2"
[  1569.901] (II) Loading /usr/lib/xorg/modules/extensions/libdri2.so
[  1569.901] (II) Module dri2: vendor="X.Org Foundation"
[  1569.901] 	compiled for 1.11.3, module version = 1.2.0
[  1569.901] 	ABI class: X.Org Server Extension, version 6.0
[  1569.901] (II) NVIDIA(0): [DRI2] Setup complete
[  1569.901] (II) NVIDIA(0): [DRI2]   VDPAU driver: nvidia

...

[  1569.932] (**) ImExPS/2 Logitech Explorer Mouse: (accel) acceleration threshold: 4
[  1569.932] (II) config/udev: Adding input device ImExPS/2 Logitech Explorer Mouse (/dev/input/mouse0)
[  1569.932] (II) No input driver specified, ignoring this device.
[  1569.932] (II) This device may have been added with another device file.

[  1570.283] (II) NVIDIA(0): Setting mode "1280x1024_60"

[  1576.499] (II) XKB: reuse xkmfile /var/lib/xkb/server-A49B0D9CDBFA4DEADEE9D72BD5A2170E273505F0.xkm

-----------------------------------------------------


So apparently, it does correctly set validates and set the mode to 1280x1024_85 (first part of the log) then it Xorg does other initialisations on kbd, mouse, etc... and at the end... it sets the mode back to 1280x1024_60


I saw that nVidia-settings was on the session startup. What is does here is push what is saved on the ~/.nvidia-settings.rc to the X server. But apparently, the screen refresh rate is not saved in this .rc


I'm now searching for a workaround... for example a way to "force" the refresh rate at session startup, and still not found a program that can do that with a command line :/