Thanks for the comments, glad I posted that hand because I had to get pointed towards thinking better about it, as unfortunately I didn't recognize myself that it was a pretty bad play. Here's where I think my thinking just was bad...I didn't give enough thought to what the preflop raiser/flop c-bettor's range was. Based on his stats, he's not going to be way out of line. HU and he might bet a good part of his preflop range on that board. But, with 3 people to act after him, two of whom will have position on future streets, he is not going to be c-betting light. I don't really gain much from raising, and stand to lose a ton. This doesn't even take into account what the guys behind *me* will do. The best that I can hope for after my raise is that the original raiser decides to see what happens on the turn, but more than likely I'm in a bad spot if he can call my raise.
As to whether or not to fold when he reraises me, I still think it's a fold. I mean, you guys are right that I should not raise/fold, but I think the raise itself was pretty bad, now that I'm looking back on it. The only time I should be raising is when I've got a solid read that he's wild enough to go ahead and call it off (but even then I don't think a raise is the best play). I think he's shoving here fairly tight: sets, overpairs, broadway hearts. If that's right, I've only got 22% equity. If I add in some straight draws (that don't come with flush draws), I can approach 30%, but I think that may be a little optimistic.
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