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No only that, but to ride the fastest Shinkansen you still need to pay additional fee on top of JR Pass.

Pedantic note: the fastest Shinkansen is the 320 km/h Hayabusa service from Tokyo to Hokkaido, which you can ride for free with a JR Pass.

The fastest service on the Tokyo-Osaka corridor, Nozomi, maxes out at 300 km/h but is indeed not included in the pass.

If you're referring to the Nozomi, wasn't it always excluded from the JR Pass?