Another 
line of thought:  What about 
set mining?  (*note: All of the following calculations hinge on the assumption that SB 
will not 5-bet.)
Hero bets $0.50 for value, hoping for a 
call, but expecting 2 folds.  This bet is excluded from the 
implied odds calculation.
Set mining: (odds)*(bet) - (pot) <= (ESS)
odds = 7.51/1 = 7.51 ~= 8 
pot = 0.10 + 0.20 + 0.50 + 1.30 + 3.45 = 5.25
bet = 3.45 - 0.50 = 2.95
ESS(SB) = $17.15
ESS(BB) = $22.54
using exact odds:
7.51*2.95 - 5.25 = 16.90
Hero is 
barely priced in to 
set mine against SB, fine against BB.
using approximate odds:
8*2.95 - 5.25 = 18.35
Hero is still priced in to 
set mine against BB, but not SB.
If the $0.50 was a 
complete bluff/
steal, which 
Hero expected to 
check/
fold on most flops, then it gets 
tight enough to 
fold
7.51*3.65 - 5.25 = 22.16
8*3.65 - 5.25 = 23.95
Using the exact odds, 
Hero is barely priced in to 
set mine vs. BB.  It's a losing proposition against SB.
In all of this, though, I'
m assuming that 
either the BB 
or the SB will continue past the 
flop.  Doesn't the idea that 
both might continue and 
stack off against a 
set make this even more +EV?  Or are there enough boards on which 
Hero catches a 
set and still loses that this is moot?