[iggymcfly]

This is close. I certainly don't see anything wrong with your line here, but I usually just raise the flop. If you fold out either two pair or a flush draw, you can clean up a lot of outs, and you may get it in in a +EV situation on the outside against a naked flush draw. Also, while it's unlikely, it's definitely possible to fold out both players. The only situation where you get it in bad is in you're up against exactly a flush draw and a two pair/set hand and both of them call. If you didn't have the bottom pair (for two pair outs), I think it would be a definite call, but as is, I'd say it's a very borderline raise.