Follow Along (And Please Analyze) My Thought Process On This Hand

[PokerProdigy]

This is a hand from a $2/4 game. I am new to omaha/8 and wanted to post this hand so you guys can tell me what I am thinking about rightly and wrongly and what I should be thinking about, etc...

Please provide your analysis on the way I played this on the flop, turn, and river and also if I am thinking about the right things, and if not, tell me what I should be doing and thinking about instead.

Party Poker 2/4 Omaha/8 (10 handed) converter

Preflop: Hero is MP3 with A[img]/images/graemlins/diamond.gif[/img], 4[img]/images/graemlins/heart.gif[/img], 3[img]/images/graemlins/club.gif[/img], 3[img]/images/graemlins/heart.gif[/img].
UTG calls, <font color="#666666">4 folds</font>, Hero calls, <font color="#666666">2 folds</font>, SB completes, BB checks.

Flop: (4 SB) 7[img]/images/graemlins/heart.gif[/img], 2[img]/images/graemlins/diamond.gif[/img], 5[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(4 players)</font>
SB checks, BB checks, UTG checks, Hero checks.

<font color="red">I checked because I felt like I had a really strong hand and didn't want to scare people out.</font>

Turn: (2 BB) 7[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(4 players)</font>
SB checks, <font color="#CC3333">BB bets</font>, UTG folds, Hero calls, SB calls.

<font color="red">I just called because I felt like the original bettor may already have me beat for the high side so it'd be ok to let the other guy call behind me since I couldn't get counterfitted off the nut low.</font>

River: (5 BB) A[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(3 players)</font>
<font color="#CC3333">SB bets</font>, BB folds, Hero calls.

<font color="red">Didn't raise because I thought that card may have quartered me.</font>

Final Pot: 7 BB