Marginal hand #2 Play or no play

[grjr]

Here is hand #2 of my marginal hand series. BTW, By marginal hand I mean "not premium hand" not necessarily a marginal play (although it could be).

What would you do and why?

MP2 is LPP, MP3 is LAP, SB and BB are TAP

Party Poker 0.5/1 Hold'em (10 handed) converter

Preflop: Hero is Button with 7[img]/images/graemlins/heart.gif[/img], 9[img]/images/graemlins/heart.gif[/img].
<font color="#666666">4 folds</font>, MP2 calls, <font color="#CC3333">MP3 raises</font>, CO calls, Hero ??