I think blind play is quite interesting and probably not properly discussed enough. There are several different factors that go into deciding what hands to play from the blinds and how to play them.
1. Are your opponents loose or tight preflop? Passive or aggressive post flop? Let's say a loose passive player limps from EP, a tight player over limps from MP, the SB completes and we have AT in the BB. Raise or check your option?
2. Stack sizes. In addition to your opponents' tendencies, I believe stack sizes are relevant. You should also pay attention to a short stacks limping in from EP if they have any clue what is going on. If you have a hand like QJ or AT you often want to have deeper stacks if you are going to raise from the blinds so that you can fire multiple barrels. These hands are much harder to play not only out of position, but when your opponents have shorter stacks and just "go with" top pair post flop.
3. Rake considerations. This is something that is definitely not talked about enough anywhere. Now, there are exceptions to every rule, but I generally don't complete the SB in a 2/5 or below game if there are less than three limpers. The limpers have to be literally atrocious and willing to stack off in limped pots for me to play most hands for a complete. Most hands in these situations are just a raise or fold.
4. Opponents' willingness to go broke in limped pots. I just touched on this a little, but this is a serious consideration for me when I decide if I want to complete the SB or check my option in the BB with a decent to good hand. In some games, people just refuse to make legitimate bets in limped pots, citing "there is no money in the pot." This is stupid logic, because in order to build pots you must bet and people just love to limp, not raise and complain about how the game is tight and/or there they never get paid off. God bless live poker.
Obviously there are exceptions to every rule and your blind ranges should change with the table dynamics, but what do you guys usually complete the SB with/check the BB with? What do you raise with? Also, what about straddled pots? I think completing the blinds for a straddle falls into the same category. Thoughts? I would like to get a good discussion going.