That resolution is not correct.
1280/768 = 5:3. This aspect ratio does not exist in Windows, it has to be specifically forced, and will look geometrically incorrect when displayed on a normal (4:3) monitor.
It's 1024x768, 1280x1024, 1280x960 or 1152x864. The ratios are either 4:3, or in the case of some of Samsung's monitors, 3.75:3 (the 1280x1024 is actually 3.75 x 3, and works better on the 19" monitor for example)
A quick test of the correct aspect ratio is to draw a circle on the screen using Paint. You will figure out whether the image is a perfect circle or not.
CRT monitors running off analog are very versatile, with some creativity you can practically get any resolution to work on one, with a tradeoff between correct screen geometry, font size and refresh rate.
However this may result in odd operation as the blanking circuit tries to sync with the analog signal, this may result in flicker, loss of images and sometimes the monitor losing sync totally.
Look up the manufacturer recommended resolution. Though this does not effect the image the same way that native resolution on a flat panel monitor, it has some effect on the geometry and font size. Use that as a basis and reduce the resolution for bigger text, or increase it for more screen detail.
As the resolution increases the range of available refresh rates reduces, this is a hardware limitation. Towards a performance extreme (such as running the monitor at the highest possible refresh rate and resolution which I think you're doing) the performance will suffer, and flicker may be a symptom of that. If the monitor has a steady image at a lower resolution, then the flicker is definitely caused by pushing the monitor too hard.
Sometimes EMI will cause a monitor image to flicker. This is due to the poor quality of cable that comes with Samsung monitors, and there's not much you can do about it. My old 955DF would 'dance' with the beat as the volume to my speakers increased (though perfectly normal in silent mode or at low volumes). This was due to the audio signal modulating the monitor input via the cable. Moving cables around helped a lot, but the best solution was to replace the monitor totally.