Unusual overpair line (Party 100/200 observed hand)

[Enon]

UTG is loose aggressive (28/14/1.5)

MP2 is Dr_Zoidberg2a solid winning tag (15/12/2.x) and has asked me to post the hand for analysis.

SB is 22/16/1.5


Dr_Zoidberg2 is dealt AA

Party Poker 100.00/200.00 Hold'em <font color="#0000FF">(9 handed)</font> link

Preflop:
<font color="#CC3333">UTG raises</font>, <font color="#666666">1 folds</font>, <font color="#CC3333">MP2 3-bets</font>, <font color="#666666">3 folds</font>, <font color="#CC3333">SB caps</font>, <font color="#666666">1 folds</font>, UTG calls, MP2 calls.

Flop: (13.00 SB) T[img]/images/graemlins/heart.gif[/img], 7[img]/images/graemlins/diamond.gif[/img], 4[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(3 players)</font>
<font color="#CC3333">SB bets</font>, <font color="#CC3333">UTG raises</font>, MP2 calls, SB calls.

Turn: (9.50 BB) 4[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(3 players)</font>
SB checks, <font color="#CC3333">UTG bets</font>, MP2 calls, SB calls.

River: (12.50 BB) Q[img]/images/graemlins/club.gif[/img] <font color="#0000FF">(3 players)</font>
SB checks, <font color="#CC3333">UTG bets</font>, <font color="#CC3333">MP2 raises</font>, SB folds, UTG calls.

Final Pot: 16.50 BB.

His intention on the flop was to get a reraise behind him from the sb if he has an overpair and didn't want to raise him out if he has overs, drawing incredibly slim or dead. Same thinking applies on turn.

Does keeping the sb in the pot and delaying the raise compensate for the lost value of getting in some bets now against utg's relatively wide range of holdings?