Bubble: Playing for first or spewing? ($22)

[pokergrader]

PartyPoker - NL Texas Hold'em $20 Buy-in + $2 Entry Fee Tournament | Level: 7 - 4 players (Converter: PGC)

BB is 17/7/1.6 (59)

Chip Counts:
Button: 1610 Chips
<font color="red">Hero: 2660 Chips</font>
BB: 2240 Chips
UTG: 1490 Chips

Hero is SB with T[img]/images/graemlins/heart.gif[/img] Q[img]/images/graemlins/heart.gif[/img]
Blinds are 150/300

PreFlop
<font color="blue">UTG folds</font>, <font color="blue">Button folds</font>
<font color="green">Hero Calls</font>, <font color="green">BB checks</font>

(2 players) FLOP: 9[img]/images/graemlins/heart.gif[/img] J[img]/images/graemlins/heart.gif[/img] 5[img]/images/graemlins/club.gif[/img] ( Pot Size: 600 Chips )
<font color="red">Hero BETS ($500)</font>, <font color="red">BB RAISES ($1000)</font>
Hero is All-In, BB is All-In


2 Questions:

1) How is this preflop?
2) Is this played properly on the flop with 4 people left in the tourney?