A hand I can't stop thinking about

[Manimal]

Playing live, in a VERY loose 3/6 game. I'm the CO.

I have 6 [img]/images/graemlins/spade.gif[/img] 7 [img]/images/graemlins/spade.gif[/img], and I limp in pre flop. A friend is the button, he raises. Everyone calls around to me, so I figured that the 19-1 odds were good enough to call.

Flop comes 2 [img]/images/graemlins/diamond.gif[/img] 8 [img]/images/graemlins/spade.gif[/img] 5 [img]/images/graemlins/spade.gif[/img] Checked to me, I bet it out. The button raises, and I know he's got an overpair at this point in time. Only one caller to me, and I call.

Turn: 7 [img]/images/graemlins/heart.gif[/img] Checks all around, since I'm worried that the guy in front of me was on a straight draw.

River 7 [img]/images/graemlins/club.gif[/img] Check, I bet, call, call. Both opponents had pocket aces.

My comments on it: I think a re-raise preflop would have been the +EV play, right? I'm also under the impression that taking a free card with 3rd pair and a couple decent draws is the right play.

Any thoughts?