I, uh, fold?!? Yeah, I fold!

[DiamondDave]

Kinda loose player opens for a raise UTG. Tight -n- aggressive player sitting on his immediate left makes it three bets. The very next player cold calls with an I-was-gonna-raise-but-now-I-ain't look on his face. Everyone else folds.

I'm in the BB and glance at my cards, just to make sure I don't have a monster. I have AKo and muck it.

My reasons:
1) I think UTG+1 has pocket queens or better AND plays well postflop.
2) UTG+2 has pocket sevens or higher/AK/AQs/AJs.
3) UTG might actually have a hand.
4) I'm gonna be first to act on later rounds.
5) I think the next best alternative to folding is to cap the preflop betting and dark bet the flop.
6) I have a feeling that my pair outs are dead and/or I'm against multiple draws to set trips.

Did I wuss out? Did I make a wise fold? (It's hard for me to tell, because I saw the rest of the hand played out and knowing the results colors my perception of the whole event.)