Paullallier asks a good question, and I don't have a quick answer. I don't raise everything which I think is ahead of the limpers' ranges due to the positional disadvantage, but I do raise hands like 99, ATs, KQs, and AQo. I think you miss too much value if you don't. Under some table conditions I raise a bit wider, such as if the big blind is tight, and will probably fold to a small blind raise after limpers. Some hands like 77 benefit from getting the big blind out of the hand.
It is very surprising if any limper folds after a single raise in limit. Occasionally it is right to complete the small blind, but then fold if a tight player raises from the big blind, but that is a rare exception and few people will fold even if it is right. Sometimes people fold after posting a blind in the CO. Since people so rarely fold, the main consideration is value: Does your hand have a hot-and-cold advantage over your opponents' ranges? To make up for the positional disadvantage which may mean you fold the best hand a little more often, you want a larger edge than you would from the button to raise for value.
Hands like AKo do fine in multiway pots. First, you don't mind seeing extra players in the pot with weak hands, since you win larger pots even though you win less often. Second, whether you want the last guy to enter the pot or not, you still have a big equity advantage, so it is very clearly worth it to put an extra small bet in if everyone else has to put one in with their K7s or 33. A hand like TT might not do as well against 4 limpers as it does against 2, but it still has a hot-and-cold equity advantage and should still be raised for value.
After you raise a hand like AK or AQ preflop, you make the pot large enough that you should not be looking to fold on the flop for one bet except perhaps on the worst flops, like 876 monotone when you don't have a card of the suit and are not closing the action. The overcard outs may not be clean, but the pot-odds are great. On a drawy flop, I might not cbet AQ, and I might plan to fold if there is a bet and a raise, but on many dry flops I cbet with the intention of calling a single raise.
