Hi "enrager":
My fellow Contributor from Down Under, "DSV", danced around the subject but never really explained what you asked about. This may be due to the fact that NTSC color television broadcasting design causes the need for the 1000/1001 factor, and Australia uses the PAL color television system, which doesn't necessitate the slight shift.
It's a matter of what's called "beat frequencies" in electronics and physics. Television uses a number of "sub-carriers" that ride along with the main radio carrier wave that's transmitted. In black & white TV, there was just the sound sub-carrier added 4.5MHz above the main visual carrier wave. But when the NTSC method added a chroma (color info) sub-carrier at 3.579545 MHz above the visual carrier, certain conditions can cause intermodulation "beats" (which show up as interference dots on the video screen) unless the either the frame frequency (30Hz) was lowered or the audio carrier frequency (4.5Mhz) was raised. Since changing the audio subcarrier would make older B&W TVs non-compatible, the frame rate was lowered slightly (by a factor of 1000/1001) which was within the tolerance (and "Vertical Hold" knob range!) of TV set synchronization and kept all the other mathematical relationships to where visual interference was eliminated.
PAL and SECAM TV systems use 25fps (due to 50Hz electrical systems) and different color encoding methods, and never required this frame-rate adjustment.
Since you already have browsed Wikipedia, a better article explaining this is the "Color Encoding" section of the "NTSC" article: http://en.wikipedia.org/wiki/NTSC#Color_encoding
For a visual explanation of TV carriers & sub-carriers, the "Transmission modulation scheme" section of the same article has an excellent diagram: http://en.wikipedia.org/wiki/NTSC#Transmission_modulation_scheme
And to cover the "24fps" versus "23.976fps" issue, it's merely a logical extension of the 1000/1001 math applied to the telecine 3:2 pulldown ratio required in NTSC broadcasts of films. See "Framerate conversion" in the same article I referenced: http://en.wikipedia.org/wiki/NTSC#Framerate_conversion
hope this helps,
--Dennis C.
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UPDATE EDIT:
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Both my Aussie friends "Tech" & "DSV" have put the cart before the horse. NTSC came before timecode. SMPTE drop-frame was designed AFTER & due to 29.976fps NTSC. Timecode has nothing to do with the "why" of it. --DC