combuboom,
Waiting for the nuts or near-nuts is a safe strategy, but for the reasons I mentioned above, it's hardly the most profitable alternative.
In my example above, knowing that the board would be AT872 rainbow, would you fold AK preflop? If you decide to play it preflop, and then decide to continue on the flop, and then on the turn you get checkraised, there's a difference between option 1 and option 2: The person who sees the holecards knows what to do. The person who doesn't knows only one more thing: That the last card will be a deuce.
Being able to
bluff, but never bluffed out, is so huge that the two options aren't, as I said, even close.
What's more, waiting for situations where you have the near nuts may be disappointing as well, since it's not in situations where you have the best hand that you win a lot of money; it's when you have a great hand and someone else has a good hand. You won't be able to know these situations before-hand.
If you're playing no-limit, the choice becomes even more clear. Rarely will you get stacked because you were on the wrong side of QQ on a preflop push. But what if you have KK and someone else goes all-in, and you know the flop will put T-9-4-4-5 on the table? Call or fold? I - who pick the holecards - will get to see the board at some point in the hand anyway, but you will not get to see the other person's holecards.
With the right amount of patience, conservatism and common-sense reading ability, you would be completely unstoppable.
With the other option, you don't even need these three traits to be unstoppable. You just need to plug in all the hands into PokerStove, see if you're ahead, and bet. This way will lead to more swings than knowing what the board will show, but the difference in profit would be incredible.
Imagine not ever having to make a tough laydown again. Imagine knowing exactly how to best extract value from every marginal decision. Imagine being able to bluff with your 6-high hand knowing that the busted flush draw with j-high won't be able to call. And you can do this every hand.
I'll even say this: If I had the ability to see my opponent's holecards, I'd be having virtually a 100% VP$IP in limit hold 'em. I'd see almost any flop. The bets I lose preflop will be so easily made up for the bets I gain postflop.
Dorkus didn't specify that it was Hold 'em (suppose it could be Omaha as well), but the thing with Hold 'em is that 60% of the board will be defined after just one round of betting. So after one round of betting, I will - usually cheaply - have gotten 60% of the information, but simultaneously knowing exactly what my opponents have. And with three more betting rounds, that's a lot of money I can make.
Another example to show my point:
No limit hold 'em. Tight UTG raises 3xBB, one fold, tight MP re-raises the pot and it's up to you to decide if you should call. You check your magical machine, and it shows that the board will be A-K-J-4-4. Do you fold, call or raise?