Check-raise galore! (well, not really)

[gmandan]

Party Poker 1/2 Hold'em (9 handed) converter

Preflop: Hero is SB with Q[img]/images/graemlins/spade.gif[/img], A[img]/images/graemlins/spade.gif[/img].
<font color="#666666">4 folds</font>, MP3 calls, <font color="#CC3333">CO raises</font>, <font color="#666666">1 fold</font>, <font color="#CC3333">Hero 3-bets</font>, <font color="#666666">1 fold</font>, <font color="#CC3333">MP3 caps</font>, CO calls, Hero calls.

Flop: (13 SB) T[img]/images/graemlins/club.gif[/img], A[img]/images/graemlins/diamond.gif[/img], 8[img]/images/graemlins/club.gif[/img] <font color="#0000FF">(3 players)</font>
Hero checks, MP3 checks, <font color="#CC3333">CO bets</font>, <font color="#CC3333">Hero raises</font>, <font color="#CC3333">MP3 3-bets</font>, <font color="#CC3333">CO caps</font>, Hero folds, MP3 calls.

Turn: (11.50 BB) 4[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(2 players)</font>
MP3 checks, CO checks.

River: (11.50 BB) 2[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(2 players)</font>
<font color="#CC3333">MP3 bets</font>, CO folds.

Final Pot: 12.50 BB

I know my preflop play might be a bit questionable, but on the flop was I correct to fold? I'm thinking I could be up against AA or AK and I doubt I'd get raised this heavily by anything but these two hands, or am I giving them too much credit?

Edit:
MP3 47/8.61/151 Aggression: 0.69/1.18/0.79
CO 25/10.29/68 Aggression: 3.25/2.50/2.33