Hand from the Big Challenge--Felt like I was folding a winner

[DougBrennan]

This hand came from Level IV in the North America vs. Europe challenge yesterday. It seems pretty clear-cut today, but at the time I felt like I was folding a winner, and I'm curious if anyone would have played it differently.

Blinds 50/100 14 left average stack about 2600. I am the Button with about 2600, and wayabvpar was Cutoff with with almost 1700. Action was folded to way who raised to 300. Lots and lots of pots were being taken with just an open-raise, and I read way as being on a steal. In addition, I had 44 which I wanted to play. So I called.

Flop:A [img]/images/graemlins/diamond.gif[/img]3 [img]/images/graemlins/club.gif[/img]5 [img]/images/graemlins/club.gif[/img]

I kind of liked this flop. I felt like there was a decent chance way was stealing without an A, the 3 and the 5 didn't scare me, plus I had a gutshot draw. So I was planning on calling a reasonable bet, and betting if checked to. And then wayabvpar bet 500!

Not an earth-shattering amount, 2/3 of the pot, but enough so that, reluctantly, I decided to credit him with an Ace, and I folded. Which was certainly the prudent thing to do, given that I don't think, in theory, betting over 20% of your stack on an unimproved pair of 4's against two overcards is too smart. But it still felt like I was folding the best hand.

Would anyone have done anything differently, up to and including either not calling pre-flop or raising somewhere?

Doug