Equity question AK gets top pair board flush draw

[Chairman Wood]

I don't think reads are really wants worrying me here so I won't bother. If you think this is read dependent anywhere I can get them for you. What I'm asking is about equity here. By 3-betting the flop 5 handed am I losing value here with a kinda draw heavy board that a lot of people seem to like? Is this at all what Ed was talking about when he was telling us about the bad Lee Jones advice that told us to make sure we always charge the draws? This may seem silly but I like to check up on fundamentals a lot. Is there a better way to approach playing this hand? c/r, call raise on flop and lead again or c/r turn or any other ideas?
Cheers,

Party Poker 3/6 Hold'em (10 handed) converter (http://www.selachian.com/tools/bisonconverter/hhconverter.cgi)

Preflop: Hero is BB with A/images/graemlins/club.gif, K/images/graemlins/diamond.gif.
<font color="#666666">1 fold</font>, UTG+1 calls, UTG+2 calls, <font color="#666666">3 folds</font>, CO calls, Button calls, <font color="#666666">1 fold</font>, <font color="#CC3333">Hero raises</font>, UTG+1 calls, UTG+2 calls, CO calls, Button calls.

Flop: (10.33 SB) A/images/graemlins/spade.gif, T/images/graemlins/spade.gif, 3/images/graemlins/club.gif <font color="#0000FF">(5 players)</font>
<font color="#CC3333">Hero bets</font>, <font color="#CC3333">UTG+1 raises</font>, UTG+2 calls, CO folds, Button calls, <font color="#CC3333">Hero 3-bets</font>, UTG+1 calls, UTG+2 calls, Button calls.

Turn: (11.16 BB) 7/images/graemlins/heart.gif <font color="#0000FF">(4 players)</font>
<font color="#CC3333">Hero bets</font>, UTG+1 calls, UTG+2 calls, Button calls.

River: (15.16 BB) 4/images/graemlins/heart.gif <font color="#0000FF">(4 players)</font>
<font color="#CC3333">Hero bets</font>, UTG+1 calls, UTG+2 folds, Button calls.

Final Pot: 18.16 BB

[Shillx]

You have about 50-55% here. The strange thing about flush draws are that only one flush draw has the equity. As you add more flush draws to the mix, it helps the person who has the best made hand. So if all 4 opponents have flush draws, 3 of them are drawing dead and the biggest one has just 3 outs. Straight possibilities are far more dangerous then flush draws. So a KT9r flop will cut into the equity more then a AT3 flop with 2 /images/graemlins/spade.gif's since flush draws create a "schooling" effect such that you actually hope that everyone is calling you with a flush draw. If everyone in a hand has an OESD, they all have 8 outs against you while the more people who have flush draws kill the odds of the 3rd suited card actually falling.

Brad