>>331926924fps actually has a very long history in NTSC and PAL countries and so both know how to deal with either. NTSC countries simply do telecining, which basically means slowing the content down to 23.976fps so that it's a easy fraction of either 29.970 (1080i) or 59.940fps (720p). After the slight slowdown happens you take 4 film frame and create an extra frame using the fields from 3 film frames. This is how you convert 23.976fps to 29.970fps, by just creating new fake frames. Upon playback there is a 5 frame cycle pattern of combing (looks like interlacing but that's a different beast). This combing can usually be converted back to proper 24fps with little to no quality loss, but it depends on the method used.
For FILM-->PAL they simply speed it up from 24fps to 25fps, along with pitch correction.
