An interesting hand?

[garyc8]

10/20 live, 1/2 kill, 10 handed.

Preflop: UDG folds, EP2 calls w/ Q [img]/images/graemlins/club.gif[/img]T [img]/images/graemlins/club.gif[/img], EP3 calls, MP1 calls, MP2 raises, MP3 3 bets w/ K [img]/images/graemlins/heart.gif[/img]K [img]/images/graemlins/diamond.gif[/img], fold to BB, BB calls, all active players call.

Flop <font color="blue"> 6 players </font> <font color="red"> 18sb</font>: A [img]/images/graemlins/spade.gif[/img]9 [img]/images/graemlins/spade.gif[/img]3 [img]/images/graemlins/diamond.gif[/img]
checked around.

Turn <font color="blue"> 6 players </font> <font color="red"> 9bb </font>: J [img]/images/graemlins/heart.gif[/img]
checked to MP3, MP3 bets, BB folds, EP2 calls, EP3 calls, others fold.

River <font color="blue"> 3 players </font> <font color="red"> 12 bb </font>: 5 [img]/images/graemlins/spade.gif[/img]
EP2 bets, EP3 folds, MP3 folds.

Curious what people think of the play of both named hands.
Is the cold call of the two pre-flop raises too loose w/ QTs in bad position, even with 6 way action?
Of course, the KK would have won if he bet the flop. Would most of you bet in this spot?
Any observations welcome.