It's an often banded around concept that you should "defend your blinds" when playing in tournements. The button will be raising wide to steal the blinds and if you never play back then you are giving up too much of you stack. You might start 3bet bluffing with blocker type hands calling to then float on later streets.
However in cash poker you win most of your money from late possition and play from the blinds should simply be damage limitation (if you are breaking even in the blinds you are doing very well indeed). It therefore becomes more important how you respond when you are on the button and the cut-off raises, then how you respond when you are the blinds and button raises.
I've recently been looking at my play from the button and have found that there are loads of missed oppertunities where I could have called with a marginal hand and made money rather than folded.
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