Second question is how to play draws against this bet, and I was rather confused about this last night, but I feel like this is a lot simpler than I thought.

Taking the same board (K65 with 2 to a suit) and his hand range on the $45 bet into a pot of $30: We know he has an open-ender or a flush draw.

If the raise to $120 on the full range of made hands is the way to go, then I think one needs to just lay down a straight draw without the flush draw. Open-ended WITH the flush draw gets the same raise, but it MUST be the top end of the straight because high cards are also very relevant on draw vs. draw (if both players miss, 87 will usually win against 34) as does A-high flush draw only.

Nut flush draw with a pair is also a VERY strong hand against this bet, and any nut flush draw is what you're really looking for (I'm pretty sure his draw range devalues flush and straight draw quite a bit because you'll get overflushed quite a bit).

In fact, I think that the nut flush draw is so strong that the presence of this player makes it a good idea to play AXs as often as possible (like late MP). On that hand, he probably has to catch up just to the A, only has 6 straight outs (but, since you don't have a pair, can also win by catching a pair of his own) and, if you both make the flush, he gets stacked.