[Ranma4703]

You're in position, see a flop. The best way to punish a light 3 betting TAG is calling with position, because being out of position sucks. Call in position, and play the following hands exactly the same by shoving the flop if it isn't an overbet, or raising their cbet large: Sets, over pairs, most higher TPTK (not a TP of 5's), combo draws (including things like 1 over + flush draw or straight draw, some pairs + gs, etc), two pair. Basically, you are looking to get it in with a range of hands that make it unprofitable to call with a top pair, but will still have high equity versus his calling range.

At least, I believe that is the current standard for dealing with people who 3bet light, but I'm new to this so correct me if I'm wrong.