Any of the BP loading charts I've seen list both 2F and 3F for 50 caliber rifles. As stated above, they also list lighter charges in 3F. The heavier charges are always 2F. As with all things, experiment to find what you and your rifle like the best.
As a very general rule of thumb, the hevier the projectile, or the heavier the charge, the higher the pressure. Higher pressure in turn results in higher temp, which in turn results in faster burning of the powder. At some point your gun blows up. Hence you tend to want a slower burning powder for larger and/or hotter loads, so as to avoid overpressuring the barrel. Something like that. Due to the miricales of chemistry, in modern powders we have a huge range of controlled burning rates. In BP we mostly only have granulation differences.
A very similar concept applies to internal combustion engines-- the higher compression (translation - hotter burning) engine needs a slower burning fuel to avoid the wild pressure spikes (knocking) in the fuel charge.