Simonis 760 is 100% NOT a billiard cloth. 3030 is the billiard cloth. 760 was the standard on pool tables for a couple of decades, before 860 started taking over. Yes, its faster than 860, but it won't mess up your game
A player's room I belong to, Drexeline Billiards in PA, has used 760 since they opened their doors in 1990. The few times they tried 860 or championship, the players all wanted 760 back.
Now, this room is a bit on the humid side in general, so I think the faster 760 does better there than 860.
860 is definelty the most common today, but 760 is awesome to play on, as well. I kind of think 860 has become more common because that is what Diamond ships standard, and uses at DCC. That's just my opinion, no facts to back that up
Edit, I played on a carom table that the owner was too cheap to get the 3030, and he used 760. Slowest carom table ever!