Ah, quite observant of you. Yea I am finishing up my 6th month of 5/3/1. I have made some very significant gains, especially with the squat and deadlift.
My squat has gone from 255 for 7 to 300 for 7. My bench has pretty much stayed the same, though this is probably because before SS and 5/3/1 the only lift i did consistantly is bench so it has been stuck at around 285 for some time, which isn't all that bad, Im looking to adding more volume to change this though. Deadlift has gone from 285 for 3 to 330 for 9. Shoulder press has gone from 145 for 4 to 160 for 4.
I tested my 1RM 3 months ago, so they are probably significantly higher now, but after only 3 months of 5/3/1 my squat went from 300 to 340, deadlift went 365 to 415, bench and shoulder press stayed the same at 285 and 165. Damn presses progress slowly. Im 6'00" 200 pounds.
Of course, the fewer the reps the better a formula could work since you're closer to your 1RM. But the formula is rather conservative. It estimates your 10RM at 75% of your 1RM. In Rip's book the 10RM is estimated at only 70% which predicts an even higher 1RM.
If only the TS would have tried 333x3 then he would be at 90% of a 370 1RM. Seems not impossible.
So no, the formula wil not predict exactly what your 1RM is.
And yes, the formula gives a rough indication.