Heh, it's not *that* bad.. odds of flopping 2 pair or better on a SC is 5% or 19:1.
oops thx for the correction...I remembered reading (I think from Fnord) about using 1:40 to calculate implied odds with SC. not sure right why though or if it was something else, maybe someone here knows?

Also, I want to emphasize what jackvance wrote since it felt real good to understand implied odds and EV and apply them. Implied odds are based on a series of escalating bets in a hand, whereas pot odds looks at one bet at a time. EV is about whether a decision is profitable long-term (over an infinite number of times), given the likely outcomes after the decision.

here's another example to show calculating implied odds and EV - "set hunting"...
calling a 4BB raise preflop with 22, and you somehow know your OPP has AA or KK and won't fold it post flop. Pot odds dictate this is a bad call since your call was around 40% of the pot (if only you call) while you make a set in about 11% of flops...BUT the 11% times you do hit a set, you'll win 100BB by the river (as long as the OPP hadn't improved), since the OPP can't fold his AA/KK. in this case you called only 4-5% (the implied odds) of the escalated final pot, which is much less than the 11% chance of flopping a set. that makes it a +EV decision.

The EV in this idealized example can actually be calculated (correct if wrong on the math):
89% you waste 4BB, which is a 3.6 BB "expected" loss.
11% of the time you win say 100BB, which is an 11 BB "expected" gain
Your total EV would be 11 - 3.6 = 8.4 BB. That is, if you played this situation with that OPP an infinite number of times, you'd average 8.4BB per time. At any given time you could lose, but implied odds make the decision +8.4BB EV.

What if you act first? Flop comes, you check, he bets 50-75%, you call. Turn comes and you miss. Do you bet or check here, because if you check he is going to bet again. What happens if the turn comes and an Ace king or queen hits it also? Time to fold?

Say turn comes you miss, he acts first, and instead of checking he still continues to bet, or even worse goes allin wiht the rest of his stack (around $5-8)?
You basically described why it sucks to draw out of position with no read. You will probably win a ton more if you simply stay out of these spots in the first place (ie fold pre flop, unless you have a lot of others in the pot who will call his bets to give you better odds)...heads up or 3 way, you need a read (can you fold him, will he pay you off if you hit?) and a plan (what will you do to fold him? or in position, is a semi bluff +EV?).