Not raising from the SB, multiway

[W. Deranged]

1. Reraise hand #1. Making sure the big blind folds is coo. With that many cold-callers there are surely some of your opponents who are either: a) playing smaller pairs; b) sharing an assload of each other's outs; c) playing hands that don't have more than one overcard. You are raising for value primarily here. Don't worry about the pot distortion effects. As it is, the pot is already so big that it's going to be damn hard to protect your hand on any of the future streets. Just raise to build a big ass pot which you'll win more often than the other folks. Hey, MP pfr could cap with AK and force a couple others out anyway.

2. Raise this out of the small blind. Again, for value. Plan on lead-three-betting the flop, rather than check-raising, since you can't identify the source of the bet and many players are likely to raise worse As and flush draws on this board anyway.

As played I think it would be hard to check-raise the turn, as since you capped often you'll face a check-behind on the turn.