YES! I find that I learn a language fastest and best when I'm reading through code written in that language...assuming it is halfway decently intent-commented and/or documented so you know what it was supposed to do. :3
That said, I also watched one of my teams learn a LOT about C++ by reading through some very poorly documented spaghetti code and working out what it was doing, and why. (Their efforts later led to the open source project being able to refactor a performance-critical part of the code.)
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