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It's probably not profitable, and that's one reason he raises that much. With a smaller pocket pair you hit a set roughly 1 time in 9. You need to make so much money that one time, that the other 8 times you have to fold are compensated for. i.e. you have to make about 32xBB. With suited connectors or something like that, your odds of flopping two pair are 1 in 50 (clearly not a favorable expectation for the hand); odds of flopping a flush or straight are very small (probably another 1 in 50, if that); and odds of flopping a good draw to either a flush or straight, a lot higher (1 in 9 just for the flush draw, not sure about the straight - but I would guess the same or less for an OESD) - HOWEVER, flopping a draw against an overpair is not a favorable situation either, because then you end up calling bad pot odds bets to stay in and try to suck out. So you compound your pre-flop mistake by calling in more situations where you should be folding. If you guess that he will only call an all-in half the time when you do have a hand that beats him, this just makes this speculative venture a lot less profitable for you.
To me, the benefit of having this read is that you can fold and save yourself money. Don't give him action on his premium hands. He's hurting himself, you don't need to try to get lucky and hurt him further.
Of course, on the very rare occasion that he makes this raise and you have aces... giddyup.
Bottom line, if you are heads up against a hand that has you beaten 80-20 or so (overpair vs. undercards or an underpair) - you need to let it go. Might be a different story if other players are calling; you can make an argument that your odds of winning improve somewhat, depending what the other players have, and your implied odds go up because there are more players to potentially pay you off.
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