[pfkaok]

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The bottom line is that you profit by deceiving your opponents about the range of hands you could have at any time, not just by playing the hand you are holding as though it were something else.

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Well. I think thats only the case when you're playing good players who will be able to correctly put you on a range if you're not being deceptive. its why game theory becomes more important when your opponents don't make as many awful mistakes.

against some players, like tightie mcnuts, and the loosie, you don't need much deception or game theory, you just need to play in a way that exploits their mistakes to their fullest. these people are putting you on some bizzare range b/c thats the way they think, not b/c they've observed your play and have a good line on you. these players are usually horrible at adjusting too, so most times you can get away with exploiting their mistakes over and over before they begin to catch on and adjust.

So, I think, the bottom line is that you need to get good at spotting which players put you on horribly innacurate ranges (either WAY to big, or WAY to small) and then exploit the mistake as much as possible. the toughest part is figuring out how long it takes them to start adjusting, and then figuring out just how much they adjust.