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Not really (at least in No limit), IMO.
JTs does have a slight edge against any pocket pair of 99 or lower, whereas something like AKo is actually a slight underdog. However, at a full ring table or early in a SnG, let's look at what types of flops you can get with JTs.
If you flop a J or a T, you have top pair but your kicker sucks. You can easily get trapped with top pair and lose a fair sized pot to a better kicker.
If you flop a Str8 draw, there are probably face cards on the board, people will probably be betting them, and you probably won't be getting proper odds on your call if you chase the Str8.
If you flop a flush draw, you might be up against a better flush draw that has the Q, K, or A of the suit. Again, just like in the top pair example, you could get trapped holding the 2nd best hand.
I personnally don't care much for JTs. I'd take ATs over it any day, even though it's a 3-holer. At least with ATs I could hit top pair top kicker if a ten high board comes out on the flop, and I often see a draw to the nut flush (plus you have an overcard usually with the Ace). When 2 to your suit comes up, ATs makes a great semi-bluff hand (although weaker than AK/AQ/AJs). I think JTs is a trap hand, personnally.
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