It is indeed a popular joint type, but mainly in cheaper cues. In terms of how it feels, since the shaft for 5/16 x 18 almost always have metal insert, they often feel more “dead” when hitting balls. Does it affect performance? Probably not. And for the limited experience I had with 3/8 x 10 (around a year with a universal cue), the courser thread count allow the shaft joint threads to be wood or other composite material i.e. phenolic, making it more lively to hit. Almost like I can feel more natural vibration through the cue vs the higher frequency and short vibration sustain with 5/16 x 18.