Here's the link to his pedigree:
http://www.pedigreequery.com/tap+n+jazz
I think he could fit in the right regional market but his career launch would have to be handled smartly/pro-actively. He might deserve a shot at stud, but the justification for that is kind of iffy, requiring a lot of belief in the upside of what his pedigree, top and bottom, and his brief performances only hint at. AND putting him to stud with any chance of success would take a committment of breeding at least few really good/well matched BMs and raising their resulting foals to racing age to get him started/see how he does given the better opportunties. Given the extra time most Pleasant Colony sireline foals take to be race ready that's a minimum four year committment from breeding to debuts. If you can't get that kind of mare and stallion backer support there's really little reason to do it otherwise.
The good points:
Son of Pleasant Colony - a proven source of classic capability, stamina thru himself/his betters sons at stud
Per owner: has the stature desirable in today's stallions and looks much like his well known sire (Sounds like he'd photograph and show well to prospective mares' owners)
Per database: His female family traces tail female to the great race mare/reines de course: Frizette (perhaps that is why almost every top filly under his first three dams were tried in the Frizette stakes?). Has solid but not great performers under each of his first three dams - including Dixie Brass, who was a successful regional sire, under his third dam so some 'sire power' in this pedigree
Did get to the races as a 3YO (typical of the Pleasant Colony's, they take a bit of time to mature into themselves) and showed potential to improve: breaking his maiden with 80 Beyer going 1 1/8 mile on turf at first asking; ran back a good second in allowance company posting an 81 Beyer before career was ended by ankle injury. His half sister is G-1 placed and has earned over $100K racing against class company.
Fallback in this sireline/pedigree - IF proven not successful as a sire of racehorses, he might still be a good outcross sire for warmblood mares, OTTB mares being bred for fox hunting, H/J and show jumping careers (Aside from his ankle injury - is he conformationally correct/impressive from a H/J, show jumper viewpoint?).
The Negatives -
Race Career Interrupted/Full potential Unknown - Doubts as to what his ability would have been can not be answered except via speculation/first foals to race.......
Possible soundness issues? - Another doubt - see above
Lack of widespread interest among mare owners in Pleasant Colony sons? Not enough speed, Not early maturing types ergo: do not typically produce the sort of foals that get top auction prices as yearlings or are ready for stresses of 2YO Sales' speed works so more of a Breed To Race sire propspect....(As you noted other Pleasant Colony stallions haven't stayed long in US market...)
My thoughts are that if he might be attractive in PA, OK or LA. He'd have his best shot in PA, VA or W. Va. as I believe his sireline is well thought of among steeplechase riders, fox hunters and show jumping disciplines where the slowness to mature is considered a given instead of a negative. Another possibility is outside the US - where has the interest in Pleasant Colony sireline stallions come from?