correct raise on the flop? (free card, overcard)

[akishore 0]

i have A Q in the CO. the table is TAG, and i have no reads on the players.PRE-FLOPramlosa1 folds, harryedw folds, Beavis23 folds, jdo201 folds, tonyla1 calls $1, KGB22x calls $1, akishoreFCP bets $2, livinitup0 folds, 2quat4 calls $1.50, epi316 folds, tonyla1 calls $1, KGB22x calls $1.(pot = $8 ) FLOP [board cards K ,5 ,10 ]2quat4 bets $0.50 and is all-in, tonyla1 calls $0.50, KGB22x calls $0.50, akishoreFCP bets $1.50, tonyla1 calls $1, KGB22x calls $1.the bettor was all-in, so i didn't have to worry about a three-bet. i had an overcard plus a gutshot on a rainbow board. i had damn good odds to call, so i figured a raise would be ok. was this correct given the circumstances, ESPECIALLY that the bettor was all-in and i was creating a side-pot with two other players? this was a cash game, so i'm not really too worried about the dry sidepot bluff (in fact, that's actually an acceptable move since my ace-high does have some chance of being the best against only the bettor's hand, and i have a chance to win the main pot if i can isolate the all-in bettor)?aseem