[soah]

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But how often are you going to be outflopped and drawing nearly dead (to a set) when the pot is this big (after a raise) relative to your stack? Problem of course is any reasonable sized post flop bet tends to get you pot stuck.

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This is indeed the crucial variable. And since I've never been to LA, I can't offer any estimate of how often players there will lose their stack with top pair or worse against an EP raiser. I'm not going to attempt to argue that raising AA is -EV or anything (with decent postflop skills and playing against average opponents); the debate is simply whether raising is more +EV than limping. There are a lot of variables that will impact the EV of both lines and attempting to address them all here would be futile.

One other thing... I would rather play against an opponent who will only continue past the flop if they can beat an overpair... if my opponent could have a set, two pair, or top pair, then essentially they are going to be bluffing me a certain percentage of the time which is likely to be somewhat close to the optimal bluffing frequency. Sometimes they may double me up with top pair, but they will get it all back when I am forced to pay off their set the next time.

AA wins against 4 random hands 56% of the time... once again this is leaving out a lot of variables (like the fact that on the flop you would still be ahead much more than 56% of the time) but it's still a good reminder that one pair doesn't hold up well in family pots. If you put your stack in postflop against multiple opponents with AA you are just gambling that this is one of the times that it holds up. Depending on how loose your opponents play it might be a good gamble, or it might be a bad gamble... but it's just a spot that I'd like to avoid.