Earlier quoted context omitted.
No, because if you visit a site that successfully exploits an unpatched vulnerability in your browser (or plugins) that allows for remote code execution, you WILL be infected. I'd label myself extremely savvy and I've been hit by what I think were ads loading a Java applet that somehow broke out of the JRE and ran an executable.
I always turn off Java on the browsers I use. It's a HUGE security hole that allows for drive-by infections and the cost of not having java applet support is something I can very much live with.
That's not entirely accurate. Most vulnerabilities do get patched quickly.
It's still not worth enabling it in your browser though, because so few sites use it.