Calling a 4x BB raise and a call with AKsuited in level 1. A hand

[CaptSensible]

Below is hand that I normally wouldn't play this way. I'd normally re-raise in hopes of taking whats in the pot preflop or stealing after the flop going all in no matter what flopped. I played this differently because of the advice i've gotten here. The mantra "Don't risk all your chips early in the tourney in a risky situation" was going through my head. Was this the correct play? or should I have taken advantage of AKs?
Btw, the very next hand I more than doubled up with AQos.

Party Poker No-Limit Hold'em Tourney, Big Blind is t15 (10 handed) converter (http://www.selachian.com/tools/bisonconverter/hhconverter.cgi)

Hero (t800)
UTG (t235)
UTG+1 (t1490)
UTG+2 (t800)
MP1 (t785)
MP2 (t790)
MP3 (t1160)
CO (t755)
Button (t245)
SB (t940)

Preflop: Hero is BB with K/images/graemlins/diamond.gif, A/images/graemlins/diamond.gif.
<font color="#666666">4 folds</font>, <font color="#CC3333">MP2 raises to t50</font>, MP3 calls t50, <font color="#666666">3 folds</font>, Hero calls t35.

Flop: (t157.50) Q/images/graemlins/heart.gif, 5/images/graemlins/diamond.gif, 7/images/graemlins/club.gif <font color="#0000FF">(3 players)</font>
Hero checks, <font color="#CC3333">MP2 bets t50</font>, MP3 calls t50, Hero folds.

Turn: (t257.50) 6/images/graemlins/heart.gif <font color="#0000FF">(2 players)</font>
<font color="#CC3333">MP2 bets t100</font>, MP3 calls t100.

River: (t457.50) Q/images/graemlins/club.gif <font color="#0000FF">(2 players)</font>
<font color="#CC3333">MP2 bets t100</font>, MP3 folds.

Final Pot: t557.50

[sahala]

Looks fine to me.

[LeVoodoo]

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Btw, the very next hand I more than doubled up with AQos.

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That's pretty irrelevant to how this hand was played, no?

I will also limp with AK in lvl1-2, depending on my position, the action before me and my feel for the table. Folding the flop is fine.

[psyduck]

Fine. I might pay the 50 on the flop to see if I can turn an ace or a king (although why such a small bet from villain?), or another diamond getting 3:1, but this is probably a bit loose. Maybe an argument can be made from implied oddds? Probably not. You played the hand fine.

[CaptSensible]

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Btw, the very next hand I more than doubled up with AQos.

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That's pretty irrelevant to how this hand was played, no?

I will also limp with AK in lvl1-2, depending on my position, the action before me and my feel for the table. Folding the flop is fine.

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The reason I mentioned it is because of the things I've learned here I was available to win a huge pot.