[Greg J]

I appreciate yr tenacity in this argument. However,

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If you 3-bet and get capped, I'm in the "he's got a set, or two pair" camp along with you.

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As my pokerstoving suggests, betting for info is not worth it here. You are not getting the additional bets when he only has TP, and you are getting them when he has 2 pair or a set. When you call you are much more likely to illicit a bet when you hit yr flush. By 3 betting you are putting yourself in a position to win the least when you have an equity edge, and lose the most when you don't.

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But a mere checkraise can be alot of things, especially with 3 to the flop on a relatively ragged board against the preflop raiser who appears likely to have whiffed the flop.

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WHAT? How has the preflop raiser (hero) shown he has wiffed this flop? B/c the flop is ragged? So you are saying this makes a CR with a marginal hand trapping the preflop raiser and a caller more likely? Or are you suggesting a semibluff? I find that unlikely given the read on SB as a decent player, and a semibluff in this situation is pretty retarded.

Let's not forget reverse implied odds here, especially against TPTK, or if CO cold called a hand like A7s -- reverse domination is a bitch.

EDIT: I think I made my point clearer in this post than in the previous ones. Here is a rule for thumb: when it's 3 handed you generally should not get in raising wars with the nut flush draw, especially against reasonable and/or tight opponents. You likely don't have a the equity edge you think you do. When it's 4 or more, go bonkers.