[k_squared]

I agree that their are lots of hands that you can limp UTG with. I also think that Ferguson was probably talking about tournament play in which he specializes (and it makes more sense in relation to NL than limit). The fact of the matter is that you get dealt a lot of hands that play better multi-way. If you raise with a lot of your weaker playable hands then you open yourself up to getting three-bet and isolated by people later in the field who have position on you. You don't want to fold 10-9 suited, but you also don't want to be playing it out of position against a 3-bettor.

One other thing... their is a reason that having position means acting after someone... it is because it affords an advantage. If you raise weak cards under the gun out of position and think that acting first provides you with a substantial advantage then you are mistaken. Against some players this might be the case, but against good opponents they will notice your tendency to raise with weak cards and constantly be betting into you when you are out of position.

So, while acting first is valuable in certain types of games against certain opponents it is certainly not unequivocally valuable. It is very easy to trap a person who has to act first. You let him bet and call him down. See how far he is willing to take a bluff and then adjust to that. If he likes to bluff you reduce your raising/calling requirements if he gives up his bluffs after the flop you can bet out on the turn when he checks to you... either way give me position!!!

-k_squared