In My book not raising AA preflop is a Sin. Bad enough to send you straight to hell. Too many people try to get tricky with this hand. While it's a GREAT hand preflop, it isn't Golden. How many times do you get burned by aces? Many many times. Aces should be raised 4x-5x the BB and if you take it down preflop, so be it. Either you win a small pot or you lose a huge one. Your choice. Not raising preflop is asking people to draw out on you.

Now lets say there's an over agressive player at the table and you get AA Utg. If you are 80% sure he'll raise if you limp. Then you should limp with full intention of Limp Reraising the LAG player. You want to isolate the raiser increasing your chances of winning this pot heads up or 3 way. Limp/calling is as bad a play as could come. While when you hit big with AA it can push a large pot your way... any other time it just spells trouble allowing draws in for cheap.

-Jeanie