Correct to peel one off looking for 2-outer?

[bilbo-san]

9-handed B & M $3/$6. Typical loose table, 6 to a flop is standard, players cold-call pre-flop raises with the same hands they limp with. They go way too far with only small pieces of the flop -- The hand just prior to this, I lost with AK vs. 98o when he went all the way and rivered a 9 after the AK9 rainbow flop. I don't mean that as a bad beat whine, but merely to illustrate the loose post-flop play involved here.

Only specific read is that SB is a LAG/semi-maniac. I've seen him cap preflop with Q9o.

I am in the cutoff with 7[img]/images/graemlins/heart.gif[/img]7[img]/images/graemlins/diamond.gif[/img]. 4 limpers, I limp, button folds, SB raises, BB folds, everyone calls.

Flop (6.5 BB) 6 Players:
K[img]/images/graemlins/club.gif[/img] 3[img]/images/graemlins/diamond.gif[/img] 5[img]/images/graemlins/diamond.gif[/img]

SB bets, 4 calls.

I look again and make sure that I am holding the 7[img]/images/graemlins/diamond.gif[/img], so I have 2 outs, which means I need 22:1 pot odds to call, and I'm getting 18:1 closing the action. But, I reason that my implied odds are much better, since the better is on my left and there is every possibility I can trap some of the field with a turn raise. Worst case scenario is I get 2 BBs on the turn (he bets, everyone but me folds, I raise), and one on the river, which means my implied odds are 23:1 and I call. This may not be true because even when I hit the river will sometimes be a [img]/images/graemlins/diamond.gif[/img], but the K[img]/images/graemlins/diamond.gif[/img] at least gives me a full, and the 7[img]/images/graemlins/diamond.gif[/img] is my hand, so if I hit there are only 7, not 9, diamonds that kill me.

I'm wondering if the community here agrees with my logic or thinks I should fold this flop.

Thanks for the advice!