Hand from Cal State 1K

[unglee]

1500 chips to start, about 195 players. Into the third hour, still a lot of tables left. Hero was moved to this table about one rotation ago, and has yet to play a hand.

Hero has 1600 on the button, blinds at 25-50. Folded to him, he raises to 150 with red 88. SB folds, BB (Villian) calls.

Villian has played solid--he laid down an overpair on a 998 board earlier when someone came over the top. He's been folding to reraises in general, though complaining all the while. He has Hero covered.

Flop is T74, with two spades. He leads out for 300. You have 1450 left, and there is 325 in the pot.

What is your strategy at this point? And what do you put him on?