[bigpooch]

First of all, let me state that you shouldn't routinely draw
four or five when you are heads up (or even when the small
blind completes after a button limper) to your ace or king
unless you intend to pay off with a hand like 22A (except
when you know you can't possibly win).

When you are heads up, even with the SB and are facing a bet
post-draw after you have drawn 4 (or 5), you must pay off
with 22 against someone who sometimes bluffs in this spot.
If you are not comfortable with this (as many players won't
be!), you should probably often draw three to your hands,
even if you hold something like QJxxx. It's psychologically
more difficult for some opponents to bluff into you when you
draw three instead of four.

At the other extreme, if there are three or more opponents
after the draw, draw to your ace or king high (if there is
some chance a pair of kings will win after the draw) unless
you have something like As Ts 9s 3h 2h where you would draw
to your three-flush.

There are many in-between situations where you would like to
know something about your opponents.

Examples:

1) You hold KJ832 versus a limper in the cutoff. If you
know from your experience playing this opponent that he can
hold a hand less than JJ, you would draw three to KJ.

2) You hold AT765 versus a limper utg and the button. The
player utg you have never seen play anything less than JJ
and the button is a new player. Here, you simply draw four
to your ace since you have no chance of winning if you only
make a pair of tens (forget the longshot straight!).

Drawing four or five:
=====================

Now, suppose your hand is truly pathetic and you are not
heads up with the SB (if you were, even if your hand were
really pathetic, you could still draw three to your top two
cards, even with as low as something like T9, since the SB
can often have a hand like AT or KQ and you don't want to
get outplayed if you make a better no pair unless you want
to pay off with AK as well!). First, you have to keep in
mind the idea of pairing your top card. If you think there
is even a remote chance that you will win by pairing that
card, you keep it, no matter how pathetic it is! Suppose
the lone limper you are facing could have a pair of 99 to
JJ from your experience and you hold J7652. Here, you must
keep your jack in case you make a pair of them!

In multiway situations, it seems much harder for just one
pair to be good, but the same idea applies when you hold a
queen or jack. When you hold a ten high or less, you are
basically giving up except on a miracle draw, so drawing
five when you have a nine high or lower seems reasonable.
Keeping a ten isn't terrible in most multiway situations and
it's hard to believe you give up much by keeping it against
three or more opponents.