Ah, no, the way I meant it (and GLFW does it when the mouse is hidden/locked) the actual hardware cursor does not move at all so we are basically working on mouse position deltas.
As far as I can tell from a cursory glance at the GLFW sources, it also only resets the cursor to the window center, but it does it internally and apparently that is enough to stop the cursor from leaving the window.
EDIT: But locking the cursor to the client area would also work for me, in that case we can just do the reset to center ourselves, which would merely result in a clamping of the rotation speed in the fps example.