It does make intuitive sense for handles to be 1/3 of the length of the curve, as that makes the "speed" close to constant, but this is not the smoothest possible choice in general. In particular, it's not the best approximation to a circular arc, which by most reasonable definitions is the smoothest possible curve. I did the math[1] and found that there's a parabola around each endpoint that does result in an accurate arc approximation, and in fact may be easier to apply as it doesn't move around as the length of the curve changes. Rather, each of the parabolas can be applied independently.
Evidence in favor of this is O(n^5) accuracy scaling to approximate Euler spirals (which are also a good candidate for "smoothest possible curve" depending on the way you define that). I suspect, but haven't yet demonstrated, that there's some variational sense in which this choice is optimum, or at least to a first order approximation.
You can think of cubic Béziers as forming a four-dimensional parameter space (the parameters can be accounted as the lengths and angles of the control handles; in this scheme, the positions of the endpoints are not counted). By applying a rule such as 1/3 arc length, or falling on a parabola, that reduces it to a two-dimensional space (same dimensionality as quadratic Beziers, Euler spirals, and sections of rectangular elastica). I think two dimensions is too few, as it doesn't give you the ability to easily form superellipse shapes, a particular strength of cubic Béziers and quite handy for font design, as superellipse is extremely common in fonts. I think there may be some value in exploring a three-dimensional parameter space (which, among other things, is the count for general elastica) and have some ideas.
As for (2), the problem is that for s-shaped curves, cubic Béziers tend to put curvature maxima near but not exactly on endpoints. Since the curvature maximum is visually salient, you do better subdividing your curves so you can place them at joins. Other curve families, notably those based on elastica and Euler spirals, don't have this problem.
[1]: https://raphlinus.github.io/curves/2021/02/19/parallel-curve...