I'm not a nit and Mischa Barton is hot (and three decisions)

[crumpentunt]

I think calling and going for the overcall with MP1 is the best play in hand 2.

If you raise and have the best hand, MP1 is folding and MP3 is calling.

If you raise and have the worse hand MP1 is reraising or calling and MP3 is calling/reraising.

If you call and have the best hand MP1 will call as well, and you've won the same amount than when you raised and won.

If you call and have the worst hand you lose less than if you would have raised and had the worst hand.

I think going for overcalls is easily the best option here.