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When CO 3-bets MP, I'd put him on a value range. So I like calling preflop because you're probably near the bottom of his range.
If you raise the flop and get called or re-raised by MP or CO, you're probably way behind, sometimes flipping. So I like calling on the flop, even though it would be nice to get ai with the BTN. I'm not too scared of diamond turns, but if a K or A comes, and CO shows interest or MP is still around and shows interest, that would be bad. Ideally, you call the flop, MP folds, CO checks or bets small ott, you put in a big bet, committed now, CO folds and BTN comes along with his KJ or w/e. If you call the flop and the turn is fairly safe and CO puts in another big bet, you have a decision to make, probably just fold.
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