Higher fps = higher fire rate
The reason some servers add a rule into their pb stream is due to places that are otherwise unreachable.
333 actually makes your movement terrible since it doesn't allow you to strafe properly, but can still go far
Above 250 fps makes the recoil reduction go away, you start having more.
333 doesn't make you walk silently, it can make the gaps between sounds longer, but silent walking doesn't kick in until near 500 fps.
You can't always bounce either, many require a specific angle which needs a different fps to hit, usually 125 or 250, with the extremely rare 45-60 and 333 bounces.
All in all, the only real advantage is the jump height, and its not very beneficial to have on 24/7 as if you aren't jumping on things you normally couldn't get to(there's not even a roof I can think of you need 333 for), its going to slow you down by quite a bit. The extra fire rate isn't worth the extra recoil. 333 is easy to spot by the way their strafe just kind of drift lazily in the wrong direction.
Hope this all helped.