BB is 62/15/0.68 over 50 hands

**EDIT hero has AK spades (sry converter messed up)

Preflop:
3 folds, Button calls, BB calls.

Flop: (12.50 SB) 7:diamond:, 4:heart:, T:spade: (3 players)
BB bets, Hero calls.

Turn: (9.25 BB) J:heart: (2 players)
BB bets and is all in! Hero calls.

River: (9.87 BB) T:heart: (2 players)

Final Pot: 9.87 BB

I raised the flop to force out the button, get a free turn, possibly get a little bit of fold equity and a little bit to find out where I'm at... Should I instead have just peeled?[/b]

As long as your suits aren't clubs then raising the flop is fine given your reasoning. You can fold better hands, clean up outs, get the lead in the hand, and fold a live 6 card draw against you on the occassion that you have the best hand.

Investing the extra SB in knocking Button out is well worth it in this situation.

nh