i play 3c and the rubber wrap is very common for these cues. it does give you a great grip on the cue, esp for some shots that you have to do in 3c. it does absorb some of the hit, but remember in 3c the balls are heavier and the cue is very stiff. i think it would work just fine for pool, it would give you a great grip on the cue....hit-wise, you might be able to feel a little bit less, but that could be good or bad depending on what you like
i don't think the rubber grip would attract any more bacteria or odor than say linen or leather. most of the rubber grips you see on lucasi's/poison's are not really rubber but some kind of high tech polymer, kinda like vinyl. some of the 3c wraps are the same way, some make of silicon, etc.