In a MTT field this soft(ish) I think I'd rather just take advantage of his LAG play when we can play pots in late position. Plus 30 BB is still a lot pre-antes so I doubt I'm going to craft some elaborate and pretty high variance move with a low equity hand.

SPEW, fold

Seems like a pretty easy snap fold, the next hand is almost always better than 35 IMO

I appreciate your outside the box thinking here, but this is way too ambitious. Read your post again and look at the big picture. So many things have to go right for that scenario to materialize. And when it does, his KT spaz still has 6 outs twice vs your pair of 3s on 732r. 

I agree in theory that as an opponents opening range widens, one must defend wider. But this is taking that principle too far. Additionally, the opponents tendencies must be considered. This is a guy who is going to apply pressure post flop and fight for most pots. You're going to have to make a hand / some equity to win, and 35o rarely does that. 

Finally, Layne is expecting players to play widely vs him. Why not wait for a spot where you have top pair or something, and he's going to assume you're fooling around, and then you get it in with a strong hand vs his ranges and have great equity to double. 

I appreciate creative thinking more than most, but it cannot be at the expense of established fundamentals. 

I dont think defending 35o which is basicly equal to any two is profitable against a player you describe as fairly competent; this hand is not going to flop well and this is even mor ev- when you are not so deep...

As Nick said, you really need a perfect storm of events and correct assumptions for this to be a profitable play. It's important to remember that you are dealing with an EP open against a competent player, in a field full of soft spots. There's really no need to go out of your way to play pots with him, especially not with a 35o.

So important to not over adjust in situations like this. Yes all the factors you have listed are great to establish and because of this we absolutely do need to be peeling wider out of the big blind in this spot. That being said, whatever post flop plans you can conjure up, your opponent needs to be so poor to make defending 35o here anywhere near break even.

Something else of a concern to me would be the "live read" you talk about when you say "When I made my live read I read him for a playable hand but not a big hand so i deweighted big pairs and big aces." I would be VERY cautious making a reads as specific as this, curious as to what he could have done for you to gauge this?