[frappeboy]

This is very similar to the 1-3 spread limit game with a $1 bring-in that they have at foxwoods...

I think the correct strategy in these games it to play very tight against a raise on 3rd, but to limp with many hands that do well in multi-way pots... This includes hands like (Q J) 9 with a very live two flush and live straight cards.. Since the people at these limits are so loose and generally calling stations, you get paid off when you hit.

Although this may seem too loose for the "structure", keep in mind you are probably the best player at the table, and although your immediate pot odds aren't good your implied odds are great against bad players.

I think there is a brief discussion of this in 7CS4AP under "Spread limit".