Failing to control the pot size. Did I make that mistake here?

I said I would post something worth while, this isn't it but it is something other than a post trying to recruit players.

This game was $2/5 blind 5 handed at the time. I was on the button with $2700 or so. The only other good player was UTG with $1500 or so. He was a good player that would open almost every pot but played well on the flop.

UTG opened the pot for $20 as expected I looked down at 2 [img]/images/graemlins/spade.gif[/img] 3[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/spade.gif[/img] 5 [img]/images/graemlins/club.gif[/img] now I know the majority of you are going to say fold. Yes this is a clear fold most of the time. Here is my thinking. He has been picking up a lot of pots un-contested or with a big bet on the flop if someone called. I haven't been in a hand for some time. I think I can re-steal here and if I get called and hit my hand he won't see it and I may get him to bluff the flop. If he re-raises me I can get away from the hand for $70.

I raised the pot to $70 and he hesitated for a second and called (it looked like call or fold not call or raise hesitation). The flop came down 2[img]/images/graemlins/club.gif[/img] 2[img]/images/graemlins/diamond.gif[/img] 4[img]/images/graemlins/club.gif[/img] . He led out with $100.

What do I do?

I'll post my thoughts shortly.