Quick PF question

[SparkyDog]

Party Poker 1/2 Hold'em (6 max, 6 handed) converter

Preflop: Hero is MP with 8[img]/images/graemlins/heart.gif[/img], 8[img]/images/graemlins/diamond.gif[/img]. Hero posts a blind of $1.
CO calls, <font color="666666">2 folds</font>, BB calls, UTG calls, <font color="CC3333">Hero (poster) raises</font>, CO calls, BB calls, UTG calls.

After I did this I got to thinking it probably wasn't my brightest moment to create a big pot out of position against multiple opponents with a vulnerable and difficult to play hand. Do I have the pot equity here to raise? If I do, is it large enough to justify a raise PF, or should I usually wait and see what the flop brings before I put more money in?