The perfect poker hand
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Dwan reads his opponents' hands perfectly
Greenstein raises from UTG and since he is a classic TAG at a table full of crazy action junkies, his range will be very tight. His continuation bet in a multi-way pot further strengthens this assumption.
Dwan realises that it is rather unlikely that Greenstein flopped the full house with TT because Dwan himself has the T in his hand while the T is on the board. So he makes a flop raise trying to represent a very strong hand and apply pressure on Greenstein. The very deeps stacks play in Dwan's favour here.
Eastgate will have called pre-flop with nearly any two cards in the blinds due to the great odds he's getting. By cold calling the flop raise he signals he has a 2.
Dwan expects hero folds and is rewarded
Dwan takes advantage of the fact that Eastgate knows that Dwan will put him on a very narrow range.
"I know you have it but I'm still going to bet" is what Dwan's action communicates on the turn.
Both Eastgate and Greenstein are too intimidated to call down with their bluff catchers and Dwan wins the hand without a showdown.
Dwan's perfect assessment
The situation is always easier to assess from our position as observers. Even if the hand can be logically explained afterwards, it is a completely different thing to actually play like this at the table.
Most players, even very good ones, probably wouldn't even have recognised the possibility of bluffing Greenstein. They would have played "call flop, call club or ten on the turn, otherwise fold". And almost nobody would have been courageous enough to think about continuing the bluff after Eastgate's cold call on the flop.
This is why Gabe Kaplan was right to say that Dwan had "the weakest hand, but the biggest heart".
