A nice analysis of check rasing vs. betting out EV in a short-handed game:

http://www.pokerpages.com/articles/p...son-pohl13.htm

I love the check raise against aggressive opponents. Usually, I'll wait for the turn to get the big bet. I will check raise the flop with bottom set or a baby flush to protect it (the aggressive pre-flop raiser will usually bet out even if there are 3 of a suit on board).

I'll also check raise for information on the flop. Say I'm in the blind with AJo. If I'm playing against a tight player who's raised from EP, I'll sometimes check and raise when an A hits and I have no reasonable draw. If he raises me back to tell me I'm beat, I don't mind chucking it.