I agree we're looking to maximize value. How to achieve that is the question. I just reread the articles recently, silver ones, regarding BSS postflop play. The question of betting and raising for value is discussed, and concludes that a value bet, or raise, isn't for value, unless it is called, or raised.
My opinion here is that because of the previously mentioned factors, UTG will lay down his hand too often for this to be for value. We won't build the pot, we will conclude it.
I also believe that any hand that would have called a raise here will be in just as good a shape to call a turn raise, even though this should represent a stronger hand. I think greater value in this circumstance can be gotten by just calling the flop and making a further decision on the turn.
We have position, so the greatest value, actually rather than theoretically, may be achieved by calling again on the turn, and save out value raise for the river. While that should kill our action, it doesn't always work out like that.
In summing up, I am saying that standard actions don't always apply, and I think this case was one where the value raise line cost us, and it was quite assessible at the start.
