[Rhinehold]

I would play this exactly as you did and think through it as you did. I would probably lose it though, since that's how it has been going especially at Party's .5/1 lately. These guys call presented made hands (top pair, flushes, etc) with bottom pair! While this is normally a good thing, it takes away much of the bluffing at the pot that I think most non-fish would think twice about calling.

So, as usual, much of the situation is going to depend on your read on the other players.