This was not a hand I participated in, but one I watched at the table.
Wednesday night $2/5 game mostly regs. The table was peer pressured into putting on the $10 straddle everyhand so it's 2/5/10 and most players are playing pretty tight.
A winning LAG (young jewish guy) probably best player in the room, for 2/5 at least, makes it $35 from CO. SB tries to make it $65 and it ends up being $70. CO calls.
Flop is K86dhh (150$ after rake). They are playing $2,000 effective so 200 big blinds deep since straddle is on.
SB bets $75. CO raises $275. SB Jams $2000.

SB has AA.

I wanted to share the hand cause I was unsure of how it should have been played from the SB perspective with AA. Obviously preflop probably should have used different sizing to build the pot with his good hand. The LAG should be raising 88, 66, 86 for value on the flop but he'll have a few straight draws T9s, 97s, 75s, 54s, and a bunch of flush draws maybe like AJhh-A2hh, KQhh-K9hh, QJhh-Q9hh, JThh-J9hh, T9hh and maybe a couple more. So that's like 6 combos of sets, 3 combos of two pair (86s), 9 value hands. Maybe around 30-35 possible draws.
So maybe LAG has roughly 3.5:1 on bluffs vs value if he chooses to bluff them all.

What's the best line for SB to take here given COs likely range when facing the raise on the flop? Does it change if they are $4000 effective on the flop as opposed to $2000?

So first thing, $65 is a legal reraise. Raise went from $10->35 (so $25 more), so min reraise is $60, not 70.

Second thing, getting advice about play for another player is useless, because how a fish shouldve played his hand is irrelevant, because V will play SB far differently than someone like you or me. The 3 bet is probably always AK QQ+ from SB, which means V is probably almost only ever value betting here not semibluffing. because AK AA KK are never folding.

I think there might even be a rule against it, for this very reason. So idk, who cares. The way he shouldve played AA is that he shouldve disguised his 3 betting range with a variety of bluffs and other value raises, and now his hand is face up and he wont fold and got taken to value town because his range isnt properly balanced.

Edit: also, third thing, dont let the pros peer pressure people into all straddling, just refuse yourself. This **** sucks.

Jam seems kind of bad. I would call the flop.

Jam get called by better hands and high equity draws like 79hh or KQhh etc. if we flat we can keep in buffs like 9Tdd or maybe a KQ that’s overplaying.

As played, what worse hands are calling SB's jam?

CO raised pre. SB then 3B. The SB leads out on the K-high flop, and CO raises. Then SB jams $2k into $500, so...a 4x pot over-bet jam.

The CO is possibly the best player in the room. If he's that good, is he going to call off with KQ, or even AK? How can he call with worse than KK?

The CO probably isn't raising pre, calling a 3B from the SB, raising flop, and calling a 4x pot jam with 97hh or KQhh. MAYBE he calls with AKhh, assuming SB doesn't have Ah in his hand.

If SB has the Ah in his hand, the jam is even worse.

AA is still just one pair. Unless SB knows CO is NEVER flat calling the pre-flop 3B with KK, and ALWAYS 4B'ing KK pre, I'm not sure I'd ever 3B the flop when CO raises. Maybe I'd raise if I didn't have the Ah in my hand, but our hand would be so face up at that point, V could put us in the blender if he 4B with AKhh.