[J.A.Sucker]

You are obviously wrong. There are many hands that are "money favorites" even though they will win infrequently. This is the whole point of implied odds and reverse implied odds. I play hands that will not be the best the vast majority of the time, but that will win a lot more than a mediocre hand when it comes in. A hand that is "better than average" but a huge money dog is ATo in hold em. Pocket pairs aren't likely to be the best hand (doubly so once you take into the flop) against a field of multiple players, but you can easily release it if you miss your set while punishing them when you hit your set.

Also, which is the better hand in this situation:

As2s or KdKc, if the board is 4s5s8h? KK is in the lead, but the A2 is a favorite.

Also, your point about tournaments is also incorrect, since you neglect the blind money that's in the pot.

If you're playing headsup limit hold em, there are some players whom I will play every hand on the button against (in fact, most players that I'll play headsup will fit into this category). I will save more than enough bets when I'm not winning while extracting extra bets when I do win. Plus, there's the fact that the blind money is laying me a price. Thus, having a hand that's above or below the median is pointless.

Perhaps the best example of this comes from NL holdem. If you and your opponent are both playing deep stacks and you have a player in front of you willing to commit his entire stack on the flop with TPTK or any overpair, you could play a ton of hands, looking to outflop him and get the money in when he's in deep kimchee.

You should spend your time thinking about other things, and let Noted Poker Authority Ed Miller finish his book!