Betting a set, then get hit by a raise ... do I fear the worst?

[RobMay]

Should I have backed down on the turn here? My instincts told me he had out-flopped me, but the masochist in me just had to keep going just to prove myself right.

Party Poker No-Limit Hold'em, $50 (9 handed) converter

MP3 ($15.99)
CO ($27.55)
Button ($89.88)
SB ($32.41)
Hero ($45.53)
UTG ($29.25)
UTG+1 ($28.7)
MP1 ($79.78)
MP2 ($34.94)

Preflop: Hero is BB with 2[img]/images/graemlins/club.gif[/img], 2[img]/images/graemlins/diamond.gif[/img]. SB posts a blind of $0.25.
<font color="#666666">2 folds</font>, MP1 calls $0.50, <font color="#666666">1 fold</font>, MP3 calls $0.50, <font color="#666666">1 fold</font>, Button calls $0.50, SB (poster) completes, Hero checks.

Flop: ($2.50) 2[img]/images/graemlins/spade.gif[/img], 3[img]/images/graemlins/spade.gif[/img], A[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(5 players)</font>
SB checks, <font color="#CC3333">Hero bets $3</font>, MP1 folds, MP3 folds, Button folds, SB calls $3.

Turn: ($8.50) 9[img]/images/graemlins/club.gif[/img] <font color="#0000FF">(2 players)</font>
SB checks, <font color="#CC3333">Hero bets $8</font>, <font color="#CC3333">SB raises to $16</font>, Hero calls $34.03 (All-In), SB calls $12.91 (All-In).

River: ($79.44) Q[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players, 2 all-in)</font>

Final Pot: $79.44

Results in white below: <font color="#FFFFFF">
SB has 5d 4s (straight, five high).
Hero has 2c 2d (three of a kind, twos).
Outcome: SB wins $66.32. Hero wins $13.12. </font>