Top pair facing bet and raise in big pot

[SlantNGo]

No read on SB. MP3 is sLP-A, although I haven't seen any insane raises with him (not one of those guys who raises with bottom pair).

1. Do you think my hand right now is best?
2. If not, how many live outs do you think I have?
3. And what should my action be?

I'll start by saying:

1. No
2. I have a hard time believing the 8s are live, and a 7 completes an OESD, I'll give my self 4 outs here for the two pair possibilities and the backdoor straight.
3. Easy fold, right?

Party Poker 0.5/1 Hold'em (10 handed) converter

Preflop: Hero is Button with 8[img]/images/graemlins/club.gif[/img], 7[img]/images/graemlins/club.gif[/img].
UTG folds, UTG+1 calls, UTG+2 calls, MP1 folds, MP2 folds, MP3 calls, CO folds, Hero calls, <font color="#CC3333">SB raises</font>, BB folds, UTG+1 calls, UTG+2 calls, MP3 calls, Hero calls.

Flop: (11 SB) 3[img]/images/graemlins/diamond.gif[/img], 6[img]/images/graemlins/spade.gif[/img], 8[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(5 players)</font>
<font color="#CC3333">SB bets</font>, UTG+1 folds, UTG+2 calls, <font color="#CC3333">MP3 raises</font>, Hero ???

[meep_42]

I'd give you 5 outs and a small chance you are ahead. SB could be betting overcards, which is consistent with his PFR. If MP3 is a 2+2 type player, he could be raising A6d or the like here to protect his hand in this large pot. He could just as easily have 33, 66, or 88, though -- I think I chuck this one. This is not a great flop for you.

-d