Your normal live 2/4 fish-fest with a few minor exceptions.

[4h] in MP
2 limps, I limp, LP player raises, BB + limpers call

[3c][Jh] Pot 10SB
BB checks, 1st limper bets, 2nd limper calls......

Reads:
1st limper - complete fish, first time playing live, loves "Poker After Dark" on TV.
2nd limper - unknown, but looks like an idiot
LP raiser - this one is interesting. He's actually a high stakes player (40/80) who's been playing there for a LONG time. He's just donking around in a 2/4 game to waste time, talking to friends, while waiting for a seat in a much bigger name. We've had a couple of interesting conversations. He thinks I know what I'm doing (although judging by recent results, I'm not to sure I do anymore ).

Fold pre-flop. As played this looks like an easy call. I might cut out a raise behind my cards then just toss out the call after shooting a glance at LP, obv. trying to discourage LP from raising behind. I very much doubt an ace on the turn will put you ahead, so your gutty and BDNFD are all you have going, worth about 5.5 outs. You are getting a good enough price on the flop for one bet.

I call the raise back to me pre-flop, and peel one on the flop

Anybody at all think there might be a positive reward to risk ratio in attempting to buy the button, a free card, and possibly an out or two here against the 1 player at the table who may be capable of folding?

4+1+1.5=7.5?

I also count bd flush draw as 1.5 outs after reading SSHE.