If you refer to http://shootout.alioth.debian.org/u32/luajit.php my answer is: maybe. As far as I understand the JavaScript benchmarks there were made before the most recent speed improvements (JaegerMonkey, present in Firefox 4 beta). In my simple tests, the speed in some loops can reach the speed of C, with the times better than LuaJIT.
Still, LuaJIT is easier to obtain and run, as far as I know.
The tests I've done were only inside of Firefox 4 Beta and I've got 3.4 sec for 5M n-body on my slightly (30%) faster computer. I remember that traditionally the standalone builds of Mozilla JS were not giving the same results as the one in the browser.
A message for Mozilla devs, in case anybody reads: be aware that people do try to measure how fast JS is from the command line and let them get the really last results! And use http://shootout.alioth.debian.org if you want to fundamentally improve your implementation of JS.
The benefits of the benchmarks game: allows comparison with other languages (like Lua) whereas as far as I understand their Kraken is JS only and browser only. Thanks a lot for your good work!
I'd also like to know. At the time as first JIT functioned in the browser I wasn't able to download the sources which really did JIT on Linux in the command line. I wouldn't be surprised that now again the latest speedup in the browser is not repeatable in the command line for most of the people.