Earlier quoted context omitted.
Latencies bellow 16ms require a refresh rate higher than 60Hz. For 9ms you need at least 90Hz. Don't know many who do that. Specially if you take in consideration the battery hit that the faster update rate requires.
Don't those latencies add up? In the worst case 60Hz + this new pen will add up to (16 + 9) 15ms of latency, right? If the screen refreshes at T=0,16,33,50 and you create input at T=8 then the input will be processed at T=17 (8+9), so you will need to wait for T=33 before it show up for a total latency of 25ms (33-8). Which is a lot better than the potential total latency of 36ms with a 20ms pen.
Refresh rate isn't latency. Though you are right that you do have to wait for the screen to redraw.
There is screen latency as a completely separate number though, and those would add up. Many lcd monitors can have up to a 20ms latency. And those numbers would add up like you suggest. It's why gaming monitors can charge a bunch for their 1ms latency at 60hz.
It is also possible to have 120hz and 20ms latency. The numbers are not related.
I don't know what the iPads screen latency is.