#1.
odds are a way to go broke with confidence.
Know the odds, you know how strong your hand is, but unless you have the absolute nuts, you can always be beaten. How many times have you seen that piss poor hand that no one should have kept pre-flop, much less put any money on, take the pot by sucking out on the river.
#2. There is no such thing as Pot Committed unless you've gone all in. You can always fold and walk away, no matter how many chips you've pushed to the middle.
Pot committed is mental. Your opponent wants you to "think" your pot committed so he can get more of your chips. You want someone else to "think" they are pot committed so you can get more of their chips. Play your cards first, play their cards next, don't ever play "Their" mental games.