Fnord- Ok, I like the way this discussion is developing as u bring up some relevant points. I think there are more important considerations though:

I think being OOP suggests we should increase our raise size and perhaps see a flop with drawing hands like 87s, 65s.

I recently read PNLH and I actually like the concept of SPR for its simplicity. One thing we have to consider as we become better poker players is that we can create "bad sprs" for our TP type hands and then make a commitment decision on the flop. An example would be that I'm conditionally committed on any semi coordinated flop Qd9d5s for example, any flop hitting me hard AQx Qdxdxd QQx AAx, but not on dry flops A79r or coordinated flops QJT.

Our hand should not be very well defined. In this spot I am going to be isolating with an extremely wide range which without reads might look like 77+ KJ+ AT0+ A8s+ QJs+ and might end up being any two suited or 67o+ if my reads r very accurate or my opponent is extremely loose/passive.

The CO betting any flop is actually bad for us as if we r folding AQ unimproved we will be folding the best hand most of the time and if we call with it points 2.3 become magnified.

Hot/Cold equity is actually a very interesting concept in NLH spots like this. It actually does matter for a lot of reasons.

Also, given that CO limps, we can be 90%+ sure that he is weak/predictable and not a winner at this limit.