[jeffnc]

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Also - it occured to me that there IS a possible string-raise style angle-shoot by your actions.
Hypothetical: Lets say you stall after placing the one chip out there to gauge a reaction. He believes your one chip definitely committed you to raising already. He then says, "re-raise" because he's a weirdo who wanted to limp/re-raise from the SB.
You then decide this isn't such a hot idea in light of his re-raise and say, "Oh wait...I only put 1 chip out there. That doesn't commit me to the raise, does it? I forgot I was in the small blind. I was only trying to call. Sorry about that."

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He wasn't in the SB, he was in the BB. There was no possible interpretation for his action other than raise. In fact, if he put one chip out there and then tried to say he wasn't raising, he is still obligated to put out the raise. This isn't a gray area, it's cut and dried.