[pdubz]

I agree with Piz0wn0reD!!!!!! -- check the flop, going for a check-raise. If the PFR fires you can make a small raise to get AK/AQ/nonsense-hands to fold their semi-bluff. CO will probably also check, and will face a bigger bet coming to him. I don't think you become pot-commited that fast, and if the button is betting full pot than you can fold.

Having said all this, this situation becomes a thousands times easier to play if you have measurements of your opponents aggression factors from PokerTracker. If the PFRer is very aggressive on the flop, a check-raise is best -- unless he is very LAG you can fold to a reraise. If both CO and Button call a lot on the flop, dont lead out. Your hand may be best, but without position, against multiple opponents and the posibility of being completely dominate, I don't think you can go very far with this hand. TT doesn't like undercard flops much.

Given that you lead the flop -- which I think is a playable line against tight aggressive opponents (since it almost screams set) -- the turn is fine. CO's cold-call scares me a lot, since it seems like a second-hand-low play intending to trap the preflop raiser. I'd say CO actually has a set.