Re: What is your line here?
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If you believe what you say, shouldn't you then cap it after utg lrr'd? Consider:
If you're concerned about gaining information on mp's hand, you can now rule out AA/KK/QQ/JJ?/AKs, therefore according to your "theoretical correct play" you should cap assuming utg holds enough cheese as you say he does.
I agree that sometimes you should call in this situation and sometime's three-bet. But not for the reasons you stated.
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This is gold right here... It also makes the flop easy. When you lead out, EP may raise with air as you say earlier, but MP folds either way without a K. Then you find out on the turn what EP has. Or you may take it down on the flop.
As played I check the flop and fold if MP remains in the hand when EP bets out.
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