1) Nothing stops JIT compiler to produce code that is faster than static compiler, on the contrary, JIT compiler can do faster, knowing runtime data (i.e. which branch is more likely to execute) OK?
2) I've written "parse file and feed it into DB" Java code that beat C code written by a colleague. (used JavaCC/JDBC)
3) In general, Java loses vs C on the following fronts:
a) operations like sin/cos, since it must produce exactly the same result on all platform
b) memory footprint
c) uh, no stack, just very fast (compared to C) heap
All that is not because of JIT compilation, but rather because of automatic mem-management. That's the price you pay for having easier time diagnosing / fixing errors.
In real life, mem footprint is the major difference you'd notice. It's in no way "times slower".