Improved methods for modeling pulse shapes of accreting millisecond   pulsars
  Raytracing computations for light emitted from the surface of a rapidly rotating neutron star are carried out in order to construct light curves for accreting millisecond pulsars. These calculations are for realistic models of rapidly rotating neutron stars which take into account both the correct exterior metric and the oblate shape of the star. We find that the most important effect, comparing the full raytracing computations with simpler approximations currently in use, arises from the oblate shape of the rotating star. Approximating a rotating neutron star as a sphere introduces serious errors in fitted values of the star's radius and mass if the rotation rate is very large. However, for lower rotation rates acceptable mass and radius values can be obtained using the spherical approximation. 
D. Leahy, S. Morsink, C. Cadeau