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Grunch.

Bet the flop. If MP3 raise you, you are beat and can throw the hand away feeling good about yourself. Will only cost you 0,5BB to find out instead of 3BB following your line here and I can't really see you winning this hand.

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I don't think you're going to get much information by betting the flop. What if MP3 is slowplaying like everyone thinks because he is so awesome and flopped a set of Kings? He's probably going to just call. What do you do on the turn if you get called on the flop?

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My feeling is that if I bet the flop with 2 hearts out there, he will get more scared than if I just check it. He will most likely show strenght instead of just cold calling. It happens very seldom they just call with a set on a flushdraw board. But ok, if he would just call... I would get really suspious (spelling?) because of the preflop action and I would check it to him on the turn watching his move and go from there with any reads I have on him.