How good is TT?

[Buz]

So I walk into this home NL cash game and am player six. It hasn't been playing long and the chip stacks are about even. All I really know is that last time I played with these folks, they didnt have any problem going all-in if they could beat top pair and the button will see a flop with any two cards if the pot is not raised. Blinds are $.25 and $.50 with a max buy-in of $40. After we play several small pots I am UTG+1 looking at TT. UTG raises to $2.
It's probably either a small favorite or a big underdog plus the rest of the table has yet to act.

[img]/images/graemlins/confused.gif[/img] In this situation, is TT a hand with positive expectation? I think you could make an argument for raising, folding or calling. Which is optimal?