Back to the hand. Piers, I'm shocked. I know how you are (and have been more lately) with defending your BB. I'm just a bit shocked that you would call an EP raise with K8o.
To recap:
Piers is CO with
You were calling $5 to win $22, so your 4.4-to-1 is correct. We know well that almost no hand in poker is a 4.4-to-1 underdog to another, and that especially applies heads up.
You were a 76-24 underdog pre-flop (3.16-to-1), so your call was correct, if you didn't think you were up against KK or AA--it's almost funny that you're less of a dog to AA than KK. To me, an EP raise means usually AA, KK, QQ, AK, or AQs. You're as little as a 65-35 dog to AQo, or as much as a 10-1 dog to KK.
Flop:
At this point, you are a 7.85-to-1 underdog. He bets (correctly with overcards), and you call. You were getting 6.4-to-1 to call, so it's a gutsy call.
This is where Piers HAS to trust his read. He felt the flop missed his opponent, and he was right.
Turn:
Suddenly, Piers is an overwhelming favorite (13.7-to-1), and his opponent is down to 3 outs (the remaining aces in the deck). You have to know that you're the favorite here, and that any kind of raise could likely chase this guy out. You just call.
River:
What are you behind here? You're only behind to a set (not raising from EP with 33, 55, or 88,), an overpair (99-AA), or a Broadway hand like AT. Nothing else makes sense for a raise from EP.
Well played hand--gutsy, but well played. I'd have probably dumped it on the flop, but that's why you're a winning 5/10 player, and I'm busy slumming at 3/6! Nice job, not to mention a great example of overplaying AK. Again, it's all about the read.