Re: How bad is this?
I think a raise here is fine. It's not stealing the blinds, you have a genuinely big chance of having the best hand right now. What if you limp and the flop is Q27 and he reraises you? I'm raising this 99% of the time.
And to the OP, I'm folding to that reraise, you have a 1/3 chance of continuing with the hand after the flop, and you're going to be in pretty bad shape when you have to pass 2/3 of the time.... Then the 1/3 times, you could easily be behind anyway.
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