Is it worth powering up?
I obtained a SB Mewtwo by trading. Only got 4/3/12 37.5% ivs at level 20. I guess, in matchups where SB is super effective, it will be good enough, but I also have a 93% Mewtwo with 15 attack and thunderbolt at level 25, which I doubt can have higher neutral dps.
Is it still better to power 1st one over 2nd(upto level 35), considering all round viability and as a generalist? Is powering up any one a good idea at all? I can't trade more, as SB mewtwo is a important attacker and I no other than my real friends can trade for it(who don't have more than 2 and hence holding onto it).
Answers
gengar is even more glassy mewtwo you should up at least 1 i have like 4 or 5 powerd up (not max) just to 3000 cp cause then i think its high enough to be above lvl 25 so it can counter pretty well and gengar i have 1 with SB and hex (i have a lot but i never get SB) the rest of my gengar candies (enough for 3 gengar on gengar day) i am going to evolve so yeah. go for mewtwo
If SB mewtwo is your only mewtwo in medium term, I think you might consider power it up as a good generalist.
I'm in similar situation with a SB mewtwo of 5 attack iv. I still hold on it at L20 because I have another SB mewtwo at L35+. Even some might not agree with me that mewtwo is not indispensable, but there are close alternatives available.
If it's your only SB Mewtwo for the foreseeable future you might as well. Shame about the IVs but their importance gets fairly overblown to begin with.
EDIT: To illustrate how important IV's actually are I compared what your would be at L40 compared to mine. I assumed your IVs were listed in terms of a/d/s. Edgelord is L40 with a/d/s 15/13/14, The Hammer is currently at L35 but I added a second entry to show how it performs at L40 and has a/d/s/ 11/11/13.
TheBiggestLeaf's analysis is spot on. Your SB Mewtwo will lag a near perfect one by a few levels (depends on where you are). Looks like if you power it up to level 40, it will be about as effective against Gengar as a level 35 perfect, which would be quite useful.
The downside is if you put in the resources to power it up and then get a better one. So ask yourself - are you likely to get a better SB Mewtwo in a reasonable period of time? People trading away SB Mewtwo don't grow on trees, and we don't anticipate SB coming back to the move pool, or the changeover glitch to happen again (Mewtwo could be TM'd to shadow ball for about 20 minutes when Giratina raids started, and then they fixed the bug. Would have loved to have gotten on that bandwagon, ....) So if this is your best SB Mewtwo for the reasonable future, power it up.
Final note - I'm almost certain that SB Mewtwo will come back at some point, probably in a limited format, or connected to a new game mechanic that may not exist now. I don't see Niantic as insisting that someone who picks up the game now or in the next few months is functionally barred from getting SB Mewtwo forever. (Sure they can trade, if they find someone with tons of SB Mewtwo, but that's a very special case.) I could see Mewtwo becoming a Field Research Breakthrough reward boss, with the first one caught having SB, the second Psychic, the third Focus Blast, and the fourth and maybe fifth a random move from Thunderbolt/Ice Beam/Flamethrower, or something like that. Doubt they would revisit Hyper Beam, which is always second best to some other attack, but they could. All that said, this is hypothetical and some time from now, maybe too long, and the SB Mewtwo in your pokemon storage is here and now and real.