This deal comes from a local Florida duplicate game. The South players held:

 7
A Q 9 3 2
K Q J 10 6
4 3
They were vulnerable against not and saw a 1 opening on the right.

What's your pleasure?
You could overcall in your major, but I think a Michaels Bid of 2 is best. It shows 5-5 (at least) in hearts and either minor. Many people choose not to do it with a "medium" hand. However, "medium" is a function of vulnerability and level. For a vul-versus-not 2-suiter, which forces partner to choose on the 3-level, this is not "medium." I'd say it is close to the least you would have for such a bold bid. Contrast this to if you were white on red and the suits you held were majors (so that your cue-bid would let partner choose a major on only the 2-level); then you would have what I would call medium strength.

After your "preempt," West raises to 4, and your partner chimes in with 4NT. What's that?

Surely not natural, and certainly not Blackwood. He wants you to choose your minor. (Yes, he could bid 5 to get you to choose, but technically, 5 should mean he has his own club 1-suiter).  You choose 5, of course, which is doubled by LHO. He leads a low spade and you see:

 

 

Vul: N-S Dlr: East	6 5 4 6 5 4 A 9 8 4 3 A 2
	7 A Q 9 3 2 K Q J 10 6 4 3

This is a bit dicey. 

 

First, you have to hope the opponents would have made their spade game. If your side could take a trick in each minor and 2 heart tricks, this sacrifice will be a phantom.

 

Also daunting is the vulnerability. Recall that you are Vul against not. If you go down 500, it won't be much consolation if they could have made 420 their way.

 

How will you play after East wins the first spade and returns the J?

There goes any chance of making your contract. Without this club return, you could have hoped to set up hearts and lose only a heart and a spade. Now, you are sure to lose a trick in each black suit and at least one heart. You will have to hope to hold it to down one. How?

Holding up in clubs can't do you any good, so you win dummy's ace. Stripping the hand in these situations is a good idea. You have lots of trumps, and you might develop a position whereby a defender gets in with a heart and then has to help you.

You ruff a spade, cross in trumps (both follow) and ruff the last spade and draw the last trump ending in dummy to reach:

 

 

	-- 6 5 4 9 4 3 2
	-- A Q 9 3 2 10 4

And now? If you think a heart to the 9 is a sure play for down 1, think again.  LHO can win (the J, say) and cross to his partner in clubs for another heart through. If LHO started with, say, KJx, he will get both heart tricks for the dreaded 500. But, you do have a sure way to avoid -500 in the above position. Exit with a club! Now what? If LHO wins, you are home free (he has to break hearts or give you a ruff-sluff). If RHO wins, his only safe exit is a heart. You cover whatever he plays and West will be endplayed. Let's review by looking at the Real Deal:

 

 

 

Vul: N-S Dlr: East	6 5 4 6 5 4 A 9 8 4 3 A 2
10 8 3 2 K 10 8 2 K Q 9 8 7		A K Q J 9 J 7 7 5 J 10 6 5
	7 A Q 9 3 2 K Q J 10 6 4 3

As you can see, West has the hearts behind you. This is good news in that East-West were easily making their 420 in 4. But the news is good only if you can hold it to -200. After the spade lead and J shift, you won the ace, stripped the spades and reached the above position.

 

Notice what would have happened if you erroneously touched hearts yourself. West would win the first heart and exit safely in clubs (by underleading to partner's known 10) for another fatal heart from East--down 500. But, by exiting in clubs, you assure yourself down only 200. The defense has to break hearts. If West plays hearts, you immediately claim only one heart loser. If from East, you cover his card and West is endplayed.

 

For down one you get an average board (not everyone bid 4 East-West).

For down two, I'll let you guess what you get--but it starts with a Z.

Notes:

> East could have achieved down 2 with a shift to the J at trick two, but who would shift to declarer's source of tricks?

> If you erroneously let the J hold at trick 2, East could achieve +500 by next switching to the J.