Criticise this $5/$10 hand for me

[Alex Scott]

Playing $5/$10 Limit Hold'em not so long ago when this hand comes up.

I'm dealt A-Q offsuit two off the button. Everyone folds to me, and I raise. The button (a loose, aggressive player) reraises and the blinds fold. I call.

There is $37.50 in the pot and I'm heads up out of position against an aggressive and unpredictable player. Not good!

The flop comes Q-5-2 offsuit. Now I'm feeling better about my hand. I check, he bets, and I raise. Now he scares the crap out of me by reraising...

At this point I'm not sure how he can have a much better hand.. pocket aces, kings, and queens I suppose but it's pretty unlikely that he has those hands (especially queens). However, from what I've observed of this player, he probably doesn't have any of these hands. If he did, he would wait to raise on the turn when the bet doubled.

What about a set of fives or deuces? Neither of these hands are legitimate three betting hands before the flop, and my opponent isn't that crazy.

In my opinion his most likely hand is something like K-Qs, Q-Js, or even the same hand as me. It would make some sense to reraise me preflop with these hands (I still don't like it though), since he does have position and doing so would most likely get the pot heads up.

There's $62.50 in the pot and it costs me $5 to call. Even if he does have pocket kings I should call here, and I do.

Now there's $67.50 in the pot and the turn comes a 7. I'm pretty convinced I have the best hand but since there are no draws on the board, I've got to wonder what he has to raise me with. I decide to relinquish the initiative and check-call him down. He bets the turn and I call.

There's $87.50 in the pot, and fifth street is a 9. I check, he bets, and I call.

He flips over Q-7 offsuit and drags the pot.

I'm not whining about being beaten - quite frankly I love it when people get so far out of line, especially in the bigger games. Out of interest though, would anybody have played the hand differently, and could anyone put him on the hand he had? I've had interesting responses when I've asked this elsewhere, but the 2+2 forum is renowned for being a good source of expert information.