Well, I'm still liking this move and am quite convinced that it's making me money under the current circumstances. I do think it require extremely high table credibility to be effective, however.
But I have run into one problem that mainly just "looked bad" to me: The other night I was getting quite a few of these LP raising hands, and most of the time, everything was clicking very nicely.
But once I raised KJo in LP after a few limpers to $25 and got a re-raise for $35 more. I folded, as is obviously "correct" in terms of the hand. I can't really hit anything in which I'm confident, barring some kind of high straight. Opponent in actuality turns over AK, on which he was making a limp-re-raise. I doubt that he was specifically "targetting" me, as my raise was still rare enough to be unreliable.
But I wonder whether the $35 wouldn't have been worth it in "intangible equity." Admittedly, the table has no idea what I really had. I honestly am not terribly enthusiastic about calling a re-raise with AK, even if it does happen that I'm up against QQ, simply because I don't know where I'm at (by contrast, I have no problem at all calling a little re-raise like that with QQ, or for that matter any pair, because I can try to set).
My actual response was simply to turn the loose LP raise off for a while.
Does anyone here (palman? any other strong LAGs?) think that calling the $35 is worth it--possibly betting 3/4 pot to a check, folding to a bet? Or maybe better, betting here to a check on any flop with no A or K.
Quite aside from this particular hand, I think getting a limp-re-raise is most likely to make A and K danger cards. If they did happen to limp-re-raise QQ, then so be it (after a flop bet, I certainly wouldn't get in any deeper regardless, barring a miracle flop).
The other dimension here is that I really don't want to show my KJo raise from LP. The more they're kept guessing, the better off I am. And folding PF is certainly one way not to show. But it looks awfully weak to that little re-raise... But I guess if they start making a habit out of it, then one solution is just to go back to tight raising... (this has only happened once, so I'm not worried about it yet)