At first glance, my reply is: Fold, then pray this guy never leaves the game. His bet is just senseless. No way you fold a low or a better high. You might not even raise w/a small boat. Senseless, I say. I guess if had two low spades in the hole and made a good low, but the A [img]/images/graemlins/spade.gif[/img] is out and I don't see how he bets out on 5th w/that hand anyway.
I think I'd've played it exactly the same way, esp. the re-raise on 3rd. Here's the twodimes on the hand headup:
http://twodimes.net/h/?z=1130625
And here's if you smoothcall and "entice" a call from the bringin's crappy low:
http://twodimes.net/h/?z=1130630
Looks to me like the extra bets you'd win don't come close to making up for the extra you lose but I could be wrong. Offhand, it looks like you lose 1/4 of your lows & 1/3 of your scoops but maybe I'm nonunderstanding what the stats mean.
Plus, I always feel your hand is much easier to play headup, and you usually won't lose position unless your hand improves greatly. Now, 6 [img]/images/graemlins/spade.gif[/img]5 [img]/images/graemlins/spade.gif[/img]4 [img]/images/graemlins/spade.gif[/img] is prolly just a call, but 654r is a FAR worse hand than that:
http://twodimes.net/h/?z=1130660
http://twodimes.net/h/?z=1130661