I've heard this hand called "Little Slick", or maybe that's specifically A-2 suited... anyhow, I call A-rag suited "Little Slick" because I feel it should be played just like Big Slick but for smaller pot odds
. Treat it like a draw hand. Raise or fold, never call and limp in. Just my theory.
BTW, I've found that certain A-rag suited hands, if they flop a straight or four to a straight with the straight card on the turn are EXTREMELY hard to see coming for inexperienced players. A strongish bet for example at a board which shows 2-3-5 when you're holding A-4 suited looks an awful lot like you're playing top two pair, or maybe a mid-to-high pocket pair. Anyone with overcards (Queens, Kings and Aces) feels awfully tempted to call. I've won several pots that way.