[Azhrarn]

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Yes you're probably dominated by at least one of em (AK, AQ), the other might have a decent pair, 88 or better. Fold while it's still cheap.

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You're giving them way too much credit. First, hero is opening from the cutoff. So his hand range is quite large here, and SB would realize that, and the button might. Button 3-bets, which is normally a sign of strength, but he's a low stack, and low stacks do strange things a lot of the time. Finally, SB caps, but all that means is he has a hand decent enough that he wants to go heads-up with the low stack, who will only have three small bets left for post-flop play. He knows the hero will fold most of his hand range to a cap. I'm thinking most pairs, many ace hands, and the stronger king hands is SB's range.

So I like the call here pre-flop. Post-flop seems okay too.

Edited because I misremembered button's stack size.