A near-future update (not necessarily the next one) will change the way that framerate is handled in the dedicated server. All users, especially those with very low pings, should receive a smoother gameplay experience with less jitter and more consistent-feeling latency.
Another effect of these changes is that all Orange Box (TF2, CS:S, etc) dedicated servers will run with a locked framerate, similar to L4D/L4D2. The fps_max convar will not have any effect on servers. (It remains as a client option since limiting your FPS can reduce GPU heat and overall power consumption.)
Although we don't normally give notice before updates, this is a potentially disruptive change for the server rental market, so those who currently charge premiums for "higher framerates" should probably start considering their options now.