I was thinking about getting a new rod and reel for Christmas. I have 2 medium-heavy baitcasters and was wondering if I would need a heavy power for jigs and pitching?

Well I would go for a heavy action. But that all depends on how munch fliping and pitching you do. It also depends on how munch cover your fishing. As for the reel I would go with a 5.1. I know most people like a faster reel but I don't. If you useing 65 pound plus braid and a heavy rod you don't need the speed. Plus with a slower reel you get more torque. Hope this helps.

If you already have two mH's, kinda make sense to get another one.

Personally Unless you fish real heavy weeded cover, a MH should be ok with hvy line.

Why not get a nice medium for cranking and to give a little more snap to your topwaters and jerk baits?

Well if im gonna go with the medium action for cranking, jerkbaits, and topwaters I was looking at the bps extreme rods and wondering which one would best suit my needs?

I've only ever fished a medium heavy as my flipping stick simply because it's versatile enough I can (and do) use it for other applications.  I don't fish many lakes/ponds/reservoirs that have a ton of heavy weed cover.  I do fish around a lot of laydowns and stumps and have had no real issues with my rod not being strong enough.