KQs in late position - Please comment on all streets

I would have limped pre-flop with the intention of raising any K or Q if there's no Ace or betting if checked to me.

If you raise pre-flop, you have to raise to 400. If Blinds and Vilain fold, you get +300 (maybe 50% of the time), if one of the blinds or Vilain call, the pot will be almost 1000. You will have to do a CB of 400 or 500 with KQ, which I don't really like.

I'm not sure Raising is better... Someone has a good raison for raising.

I know in this situation, the flop would have been perfect, but in genereal...