I'm not sure what you will do better with extrapolation. All current browsers support one stream for javascript, which can be behind a tab (Chrome) or in a browser window (Firefox). Therefore, if you do the work in a script, brower will not raise any mousemove events at all while your script is running *.
Thus, the best way to improve the mousemove refresh rate is to optimize your other javascript to get out of the mousemove event path. One way is to use more asynchronous calls. Thus, you can write your code to call setTimeout(nextFunc, 0) with the next step of the loop, which transfers control back from your script and allows you to fire events until the next step of your loop.
* An exception to the rule for single threads and synchronous computing is WebWorkers, which allows you to perform a specific set of actions in parallel with the rest of the execution, mainly those that are not DOM-related.
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