[ACPlayer]

I suspect that you can analyze heads up limit hold-em play in a game theoretic sense between two players of equal skill. Areas where this might be applicable include:

-- Balancing of calls vs raises preflop with hand strength
-- Balancing slowplaying hands like top/middle pair beyond the flop
-- Balancing frequency of semi-bluffs.

I suspect that in hold-em at least, in a ring game there are less opportunities.

Somebody may have done this. I am also not a game theoretician so this may all be a red-herring.