I am totally in favor of your advice to check fold TPTK or overpairs in multiway pots the vast majority of the time. I have lost much less since doing this. I occasional do make exceptions especially when it checks around on the flop. However, I think I still have some leak. I think it would help if I had some strict parameters as to when an exception should be made. Here is a resent example:
1-2 Cash game 200 effective stacks
MP 1 limps CO limps Hero in BB w/ AsKs Raises to 14, BB and both limpers call.
Flop: Kd 9c8h Rainbow. Checked around
Turn 5c checked to CO who bets 30
Villian could have Set, 67 for a straight, 89 or K9 K8. He could also have KQ, KJ, KT, JT, 9T, 9J, 2 clubs.
I do not think that BB or MP1 have a stronger made hand because they checked both the flop and the turn.
Hero? Fold, Call or raise?