big draw vs. big pair (interesting situation)

[phrosty]

Going through some hands on pokertracker trying to plug some leaks I found an interesting situation. At the time I felt like I'd been sucked out on again, when actually my opponent got his money in with the best of it.

Preflop here I'm a 68% favorite, after the flop I was surprised to see that he is a 54% favorite according to cardplayer's calculator. I would never have played a big flush/inside straight draw like this in the past but will look for these situations in the future. Is there a cutoff point for number of outs where you would make this play?

As a side note, does anyone think this might have played out differently if I hadn't put in such a pathetically weak reraise preflop and is this a terrible call on the flop?

PokerStars No-Limit Hold'em, $1.00 BB (8 handed) converter

BB ($58.10)
UTG ($107.20)
UTG+1 ($34.50)
MP1 ($4.75)
MP2 ($35)
CO ($57.10)
Hero ($97.30)
SB ($64.10)

Preflop: Hero is Button with K[img]/images/graemlins/diamond.gif[/img], K[img]/images/graemlins/club.gif[/img].
UTG calls $1, UTG+1 folds, <font color="#CC3333">MP1 raises to $4.75</font>, MP2 calls $4.75, CO folds, <font color="#CC3333">Hero raises to $8.5</font>, SB folds, BB folds, UTG folds, MP2 calls $3.75.

Flop: ($24.25) 9[img]/images/graemlins/heart.gif[/img], 8[img]/images/graemlins/heart.gif[/img], Q[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(3 players)</font>
<font color="#CC3333">MP2 bets $26.5 (All-In)</font>, Hero calls $26.50.

Turn: ($77.25) T[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(3 players, 1 all-in)</font>

River: ($77.25) 7[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(3 players, 1 all-in)</font>

Final Pot: $77.25

Results in white below: <font color="#FFFFFF">
MP1 has Ks 3c (high card, king).
MP2 has Ah Jh (straight, queen high).
Hero has Kd Kc (one pair, kings).
Outcome: MP2 wins $77.25. </font>