44 do you call this check-raise and 3 bet?

I have 44 in the sb, CO is a little tilted after some beats earlier. UB 30/60. I discussed this hand with a good player friend of mine and he didn't like my play, I'd like to hear your comments on it.

Are all of my outs clean here? How much would you discount them? BTW, if I hit I think I can cr the turn and get someone to call me down.

Ultimate Bet 30/60 Hold'em (8 handed) converter

Preflop: Hero is SB with 4[img]/images/graemlins/spade.gif[/img], 4[img]/images/graemlins/diamond.gif[/img].
<font color="#666666">1 fold</font>, UTG+1 calls, <font color="#666666">1 fold</font>, MP2 calls, <font color="#CC3333">CO raises</font>, <font color="#666666">1 fold</font>, Hero calls, BB calls, UTG+1 calls, MP2 calls.

Flop: (10 SB) 2[img]/images/graemlins/club.gif[/img], A[img]/images/graemlins/spade.gif[/img], 5[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(5 players)</font>
Hero checks, BB checks, UTG+1 checks, MP2 checks, <font color="#CC3333">CO bets</font>, Hero calls, <font color="#CC3333">BB check-raises</font>, UTG+1 folds, MP2 folds, <font color="#CC3333">CO 3-bets</font>, Hero ????

16 SB in the pot now.