I've mostly been using this in SNG, as it's more common to be in shorthanded table situations.

The strategy is this.

EG. blinds are 300/600, 50 ante, and its a 5 handed table, which means there is 1150 in the pot preflop. You are the SB. A standard blind stealing raise from the SB on the BB when it gets folded around to you, I would say is in the range of 2000-2400 total. Instead of making the steal preflop, make the steal on the flop after completing, then betting any flop. So you complete, assume he checks. The flop is K73, rainbow. The pot is now 1450. Bet something in the range of 800-1000. At the most, you would be wagering 300 to complete, plus a 1000 bet, 1600 to effectively "steal" that person's big blind.

My thinking is this, even if your opponent has 74 offsuit with 2nd pair, your bet looks a bit more legitimate that you're representing the king, or even a 7 with a better kicker. So this would and could get a better hand to fold to you, at a cheaper price.
I could not even see an Ace 5 kind of hand calling you, since if he has any sort of brains, and you had even a minimal piece of that flop, it's too difficult to continue, because the BB will probably be faced with another bet on the turn.

Who likes this strategy, who doesn't? I've been using this more often than a straight blind steal preflop. If I were say up against an Ace 6, and I raised to 2000 preflop, he may just well like his chances and move in on me, suspecting a steal.

I've been using this for quite awhile -- not for every blind steal, but on occasion, especially if I've already stolen a couple of BBs and I think he may be getting tired of it.

It does work. You're giving your opponent an opportunity to catch part of a flop, so that's a little risky. But at the same time, you're not putting as many chips at risk.

I have stumbled onto this strategy also. I like to mix up my steals with this and have had more than a little success with it.