The "new" Sandia Guidebook suggests heading straight up from the belay for p3...then working right towards the left facing corner. The original live heads right off the belay to a clean dihedral with two pins. This dihedral ends and heads left via a bomber undercling to a great layback eventually meeting up with the recommended line. Personally i prefer the original line, better pro and solid rock!
Great picture! ... and a great place to begin the 3rd pitch, with the belay at the bottom of the shown dihedral with the fixed pins ... albeit with scant other available pro.
Chuck checking out the original p3. The recommended third pitch heads straight up from the belay, as opposed to heading to the obvious dihedral to the right of the belay.