have a read of
this thread which is very relevant to calling 3bets for set mining.
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It is my estimation, you need, in a rr pot vs some1 who 3bets lightish at least 17:1 maybe 18:1 to call a low PP for set value
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that quote is from Dan's OP - and is pretty much on the money. When you are lookng at the implied odds situation you only look at the amount you have to call that particular decision - so if you open rase to 4bb and get 3bet to 12bb you only have to work on the 8bb you need to call there and then - not the total amount.
Basically Dans premise to this thread was that th e 5/10 rule while helpful is now out of date- and I think that as the games at lower stakes get more aggressive then we shouldn't be using the 5/10 rule - and instead use a 3:8 rule.
Use the same mechanism as the 5/10 rule - just tighter in that if the preflop call you need to make is THREE PERCENT OR LESS than the effective stack in play (the shortest stack betweenyou and the villain) it's an auto call - between 3% and 8% is a judgement call and over 8% is an AUTO FOLD.
This is assuming that we are purely set mining and fold EVERY FLOP where we miss flopping a set.
Obv some of the times you do flop a set and get all-in villain folds - so this means that sometimes we could play as if we flop a set and villain folds. Generally speaking the bad postflop playing villains at microstakes will 3bet JJ+ and Ax - if they hit an ace on the flop with AX they get it all-in - if they have JJ-KK and an ace flops they won't get all in. It's very hard to determine which of these two situations you are in and mistakes are very expensive.
we canalso play back with 55 if the flop comes something like 234 467 346 etc and we flop a pair & an OESD which is 10 outs to beat an overpair so we are roughly a 40/60 dog on the flop to AA and the dead money in the pot already makes it more than +EV to get it all-in on the flop.
but read the thread I linked - bookmark it and read it some more later.