Villains are both regs, one of them aggressive.

In this scenario board is paired but please discuss how to treat it with non-paired boards as well, especially wet ones.

Right now I am of the mind to simply c/f with bare overpair, no back up on all non-dry boards. I seem to be bleeding money a lot by cbetting in multi-way spots.

Plugging the hand in odds oracle it looks like I have 46% equity BUT I don't think I can realize most of it, with at least one of them bound to have a draw or trips otf.

If you do bet what's your size and plan for later streets? It looks tough to me to give up after betting with SPR=2 but on the other hand not sure there will be much bluffing multi-way.

Seems unlikely that CO would have a 9 here as the PF raiser. SB could based on the limp/call. You have the nut flush blocker and overpairs/BDSD. I think you check here for balance. You probably check flopped trips or boat here, but it's unlikely to have a 9-3 in your hand based on PF 3 bet. This is a sticky spot. I probably check/call the flop and if you don't improve you can fold on the turn.

I look forward to seeing what other people have to say though. That's probably how I would play it, but not much info on villains

bet 1/3 pot, fold to a raise, you have A in hand as well which is very relevant.

Any competent player knows your range is heavily weighted to big pairs and can easily float you. You have no outs when called, few backdoors, and poor equity against any calling range so just check back and be ready to fold. A 9 is fairly likely.

You definitely do not check trips or a full house.

Correct.

Incorrect.

I like betting 1/3 to fold to a raise; I don't think I'll get floated to be bluffed later any relevant % of the time

Also like c/f because I don't see that much FE, but 1/3 should be ok.

A blocker is relevant only for increased FE imo, otherwise it won't be able to fold lower flushes ever with such a low SPR.

The blocker being relevant isn't for fold equity, it's because their raising range is going to be greatly diminished.

Explain please. Vs. 2 20% ranges 9x is out there 31% of the time.

I think you just answered your own question.