Thanks mate 
My first analysis:
Hand converted with online PokerStrategy.com hand converter:
Play hand
$0.05/$0.1 No-Limit Hold'em (8 handed)
Known players:
[tg]SB (Hero)$10.05:///////;BB$3.97:///////;UTG2$15.14:///////;MP1$10.00:///////;MP2$8.98:///////;MP3$10.18:///////;CO$9.96:///////;BU$16.87:///////;[/tg]
Preflop: Hero is SB with 9:c, K:c.
UTG2 raises to $0.30, MP1 folds, MP2 calls $0.30, 2 folds, BU calls $0.30, Hero calls $0.25, BB calls $0.20.
Flop: ($1.5) T:d, 2:c, A:c (5 players)
Hero checks, BB bets $0.80, UTG2 folds, MP2 calls $0.80, BU folds, Hero calls $0.80.
Final Pot: $3.9.
03.05.2011 – Tuesday
1. K9s hand
Good preflop call. Folding is not bad either, because I have very few straight possibilities and my pairs often won’t be good in multi-way pot. My flush can also be dominated.
Squeezing is a possibility, but a very bad one. I would be isolating myself vs. better hands and I rarely if ever have enough fold equity.
Flop: I get just the right odds to call the flop (if I just think about my FD). I need 4:1 and I get 4.25:1.
The ranges I assign:
BB – Ax, ATo/s, A2o/s, T2, TT, 22 (AA would very likely 3bet preflop) and QcJc, JcTc
MP2 – 22, TT, AT+, A2s, QcJc, JcTc
Board: AcTd2c
Equity Win Tie
MP2 45.12% 42.98% 2.14% { TT, 22, ATs+, A2s, QcJc, JcTc, ATo+ }
SB 33.46% 33.36% 0.10% { Kc9c }
BB 21.42% 19.33% 2.09% { TT, 22, A2s+, T2s, QcJc, JcTc, A2o+, T2o }
Even against these tight ranges I have enough equity to call the flop bet. Folding is not an option, my hand is too good.
EV (call) = $4.2 * 0.33 + (-$0.8) * 0.67 = $1.38-$0.54= $0.84
This is the best case scenario where there are no bets on the turn, however, this will not be the case very often and my EV decreases significantly if I get to see only 1 card for this price (and am forced to fold on the turn).
What about a raise? If I raise, there are some hands that would fold. BB might fold AK-AJ (which is not a big part of his range) and A9-A3. He is not folding a 2 pair (very not likely even for T2). The same is for MP2.
Not folding: (35) Fold equity: 84/155 ~54%
TT, 22 (6) Likelihood that both will fold: 84/155*84/155 = ~29%
AT, A2, T2 (27)
QcJc, JcTc (2)
Maybe:
AK-AJ (36)
Likely to fold:
A9-A3 (84)
So, if I ship (because I would be pot committed after any decent raise) and I get called, I have 32% of equity:
Both call
Board: AcTd2c
Equity Win Tie
MP2 33.97% 30.57% 3.40% { TT, 22, ATs+, T2s, QcJc, JcTc, ATo+, T2o }
SB 32.05% 31.92% 0.13% { Kc9c }
BB 33.97% 30.57% 3.40% { TT, 22, ATs+, T2s, QcJc, JcTc, ATo+, T2o }
EV (fold) = $3.4 * 0.29 = $0.99 (29% of the times I will win $3.40)
EV (called) = ($22.83 pot size) * 0.32 + (-$8.68 my risking amount) * 0.68 = $7.31 + (-$5.9) = $1.41
EV = $1.41 + $0.99 = $2.40
Does this mean that a ship would be more profitable than a call in the long run?
I am really looking forward to any comments regarding my calculations/assumptions or anything else. I have just started calculating, so there might be fundamental flaws