Particularly, when the player hand and the the dealer up card show the same value, shouldn't the odds of winning be about even at 50% (assuming infinite decks)?
I ask this also because in some tables (player hand vs dealer hand expectations) I have seen the odds don't come up even (or expectation of zero return). For example, Michael Shackleford's work at: https://www.youtube.com/watch?v=jCF-Btu5ZCk
Is it reasonable to expect for instance that a player total hand of 10 against a dealer up card of a 10--would have about zero expectation (even probability of winning)?
Because the player can bust before the dealer, it is in the dealer's favor--given the same cards. In order to calculate this, you would have to decide on a strategy (such as hit on 16 or lower) that each player would follow. Then you would calculate the chance that the player would bust before the dealer does anything.