I tried to convert the hand with FTR, but it didn't work(?), so bare with me:

Full Tilt Poker Game #1381196965: Table Basin (6 max) - $0.05/$0.10 - Pot Limit Omaha - 18:30:54 ET - 2006/12/09
Seat 1: tootall_40 ($11.10)
Seat 2: Fergalski ($8.40)
Seat 3: metsfan11726 ($3.90)
Seat 4: xBlackbeardx ($4.85)
Seat 6: IAGTTAYM ($25.90)
xBlackbeardx posts the small blind of $0.05
IAGTTAYM posts the big blind of $0.10
The button is in seat #3
*** HOLE CARDS ***
Dealt to IAGTTAYM [7d Jh Qd 8h]
tootall_40 calls $0.10
Fergalski folds
metsfan11726 calls $0.10
xBlackbeardx calls $0.05
IAGTTAYM raises to $0.20
tootall_40 calls $0.10
metsfan11726 calls $0.10
xBlackbeardx calls $0.10
*** FLOP *** [3s 9d Ts]
xBlackbeardx checks
IAGTTAYM bets $0.80
tootall_40 calls $0.80
metsfan11726 calls $0.80
xBlackbeardx raises to $4.65, and is all in
IAGTTAYM ?

First of all, the raise preflop was a missclick... And second of all, I suck at Omaha, so this is probably a dumb question.

On the Flop: Do you lead out here with a bet most of the time, like I did, or do you check?
Blackbeard has probably flopped a set, should I raise to try to isolate? Should I fold?

You have a large wrap with backdoor diamonds, but you are vulnerable to a spade. I repot to try and isolate (although with the other players having much less than you it shouldn't affect the outcome too much).

Repot this, you want to get the spade draws out of there.

In this case I also think that leading out on the flop is good. Would suck if it checks around and the spade falls. Also, in my faulty logic, 4people are to the flop. Somone is bound to call.