Re: sm pair + OESD, 2-suited flop
I would raise this for value and protection (want to fold UI overs) as you likely have the best hand at the moment and 8 outs to a straight (though 2 are diamonds) and one non-diamond to a set. I'd rather hit the straight than a set though as that completes a gutshot for any 2 or 7.
All your concerns are valid and a set may also complete a flush along with a straight. However you still have too much equity to give up, and calling allows too many draws that you're vulnerable to call profitably.
You're best chance to win this multiway pot is to raise this flop and reduce the amount of cards that can hurt you.
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