Hand from an MTT. middle pair. low Ms

Full Tilt Poker Game: $10 + $1 Sit & Go (xxxxx), Table 7 - 80/160 - No Limit Hold'em
Seat 1: Da_Engineer (2,450)
Seat 2: BZos106 (2,440)
Seat 3: 5th and 6th st (6,585), is sitting out
Seat 4: peruflake (2,170)
Seat 5: sirlotsofloot (3,725)
Seat 6: NugentLuv (4,165)
Seat 7: rlandes (5,250)
Seat 8: ml516 (16,655)
Seat 9: Hero (3,340)
Da_Engineer posts the small blind of 80
BZos106 posts the big blind of 160
The button is in seat #9
*** HOLE CARDS ***
Dealt to Hero [7s 5h]
5th and 6th st folds
peruflake folds
sirlotsofloot folds
NugentLuv folds
rlandes folds
ml516 folds
Hero raises to 480
Da_Engineer folds
BZos106 calls 320
*** FLOP *** [2d Td 5c]
5th and 6th st has returned
BZos106 bets 600
Hero calls 600
*** TURN *** [2d Td 5c] [Ad]
BZos106 bets 1,360, and is all in
Hero folds
Uncalled bet of 1,360 returned to BZos106
BZos106 mucks
BZos106 wins the pot (2,240)
*** SUMMARY ***
Total pot 2,240 | Rake 0
Board: [2d Td 5c Ad]
Seat 1: Da_Engineer (small blind) folded before the Flop
Seat 2: BZos106 (big blind) collected (2,240), mucked
Seat 3: 5th and 6th st didn't bet (folded)
Seat 4: peruflake didn't bet (folded)
Seat 5: sirlotsofloot didn't bet (folded)
Seat 6: NugentLuv didn't bet (folded)
Seat 7: rlandes didn't bet (folded)
Seat 8: ml516 didn't bet (folded)
Seat 9: Hero (button) folded on the Turn

What do you think about this hand?
This hand is from an MTT. Not close to the money. I think it had 90 runners and over 50 were still in it.

Is raise/folding the flop better than just calling?
The preflop bet is a steal btw.