Dan,


"Since my bet on the flop is an auto-bet, it gives the button "last action" on the flop. In contrast, if I just call preflop, the button's action on the flop becomes pretty close to auto-bet (far more so if BB folds), which gives me effectively "last action" on the flop. It is in this sense that taking initiative by 3-betting preflop makes me more "out of position" on the flop.


What do you all think about this?"


I think you're thinking about the right things.


The forfeit of last action is balanced by what happens in the common case when both players miss the flop (and turn, if seen), in which case the pot goes to the last aggressor before the flop.


And then there's the reading thing. Calling preflop and checking to the raiser puts him in the best spot to know where he stands, whereas reraising preflop and betting out puts him in the guessing seat.


Tommy