For me, the advantage of Jade isn't just that it provides "live templating". What makes it worthwhile for me is speed of page design. I can bang out Jade by hand MUCH faster than HTML by hand, simply because Jade essentially contains zero excess markup.
You only need to tell Jade exactly what you want, and all the dirty work of nesting, closing, etc is done for you. Add to that the amazing power of inline arbitrary JS when paired with express, and you have something that is far more powerful than [bracketed] find and replace.