3-Card Guts strategy?

[Benholio]

Guts rules

Basically: You all get dealt a 3-card hand. Each player decides whether to be 'in' or 'out'. Highest 'in' hand takes the pot, all losing 'in' hands then replace the pot.

Seems like a game where a pretty close to optimal strategy can easily be determined, since you know your entire hand before making any decisions. The only adjustments you would have to make would be for loose/tight players. Anyone ever run across the basic strategy for this?