No, when you get on plane the jack plate is completely out of the water. In order to read at speed you'll need it where my 2d transducer is located. You also don't want it to mount it In a location that will not get interference. Might want to post over on BBC under the hummingbird thread. There's a skeeter pro named Doug Vandenberg that runs hummingbird. He should be able to help you. He's a great guy.
As Wayne said, you'll want a HB shoot thru transducer. He's a humminbird guy and knows his stuff. I have a HB 2d installed on my transom, and SI on my jackplate. I bought the boat with the 2d mounted on the transom, but if I had my choice, it would be a shoot thru ducer.