- What is the most common way modern games perform triple buffering ?
- What does the SwapBuffers exactly do in terms of OpenGL states ?
- Is it possible to perform double and triple buffering independently of window system (for example, by manipulating with glDrawBuffer or by using FBO/PBO) ? If so, any hints ?
- Does 3. even make sense in terms of performance and flexibility ?
This quote answers most of your questions:
From what I understand, it doesn't really do anything other than flushing GL and swapping the buffers.