[LandonM]

[ QUOTE ]
the only good defense against a possible steal is to raise with any playable hand. If you're playing that way, raising with A23 doesn't give away any information beyond that you have a 3-card hand, because you'll be doing the same thing with 875 here.

[/ QUOTE ]

I couldn't disagree with this concept more (generally speaking, barring opponent-specific information that might dictate otherwise). Since it's basically the predicate for your entire rationale, I guess it's what I should address.

I believe that it is "usually" proper to raise any playable 3 card hand, however, it is far, far from being a "rule".
I suppose that for those who play a "trained ape" style of Razz where certain stimuli elicits a certain specific reaction in hope for being rewarded with the banana, this might be a simple and easy rule to abide by. However, I can think of, oh, i'd say a bazillion situations where raising "any playable hand" is not the appropriate response or play. I guess i'm one of those Donks who give Razz a bit more credit as a nuanced game than maybe "the book says".

So, in this respect, I guess that yes.. If your response is to raise any playable hand on 3rd in order to achieve sufficient pot odds to potentially call a brick on 4th and then reevaluate depending on what hits on 5th, then raise A/2/3 (which in and of itself is a remarkably unsophisticated style that will, as Eli Elezra says, "leave your children unprotected" in any situation where you don't improve, or, force you to perpetually bluff your paired bricks and pray your opponent folds.

If your style is such that 3rd and 4th are more carefully evaluated, then raise or call are equal, depending on the specifics.

I agree 100% that getting the 9 to call is marginal. However, when I have A/2/3 against reasonable opponents who are capable of folding, the more people in that pot, the better and ill gladly forgo the one bet on 3rd to potentially get another person in with a marginal hand like 9/Low/Low. If 9 is a real rock, then I suppose I might lean towards raise, but absent that, i'm calling 100% of the time for more action.