This hand I'm really posting as an example, despite the risks of why I'm liking a flat call on KK rather than a re-raise.
Here, EP, not a very strong player, raises to $15. I suspect this was a moderately weak hand, actually. Could possibly have been as strong as JJ, but probably nothing much. I'm in MP with KK and decide to flat call. I seriously considered some kind of re-raise here since the raise was so small, but decided just to go with it.
Well, we end up with 5 players in the hand, making a $75 pot, and the flop comes something like QT6 with 2 diamonds. SB bets out $50, raiser calls, folded to me, and I make it $250 to go. All fold.
Now, I definitely run some risks on a board like that, such as QT, or straight draw with KJ (less likely in light of my KK, but still). But I'm quite convinced that I won more on the hand than I would have by re-raising. And in this case, I really wasn't sure of an appropriate re-raise quantity. If I want to make a real re-raise, then I get into somewhere around $60 at least, which KK can certainly handle.
Anyhow, the only thing I really DON'T like about refraining from a re-raise on KK is that it narrows my re-raise range to exactly one hand, namely AA. But I really see that as a problem only when opponents start laying down consistently. And I don't see them laying down JJ ever to a re-raise, nor AK for that matter (which is a little more dangerous for KK), and rarely TT.
I really think the way to go in the long run on this kind of thing is to stick to AA for the re-raise--until you start getting suspicious folds to your re-raise. Then turn up the juice and start re-raising AK, KK, possibly even QQ and JJ for a limited stretch. Of course, short-stacks even in the interim are an exception, but with full buy-ins, I really think restricting the re-raise range to AA until you feel like everybody is reading you on it (then loosening back up) is a pretty nice way to go.
I wish I could back it up with pokertracker, but I'm quite convinced that I've netted a lot more off of KK playing it this way than I would have with consistent re-raises (as I did for a very long time, and it wasn't bad--but hey, you've gotta try to keep improving, right?).