[kroeliewoelie]

In think you cannot say in general whether the preflop raise is bad. In my opinion there are a few reasons to raise:

1) You eliminate opponents and may be able to take down the pot with a cbet.
2) You build a pot in case you hit your set. If you have already made a lot of cbets, then cbetting when you hit is not suspicious. You also do not want streets checked when you flop your monster, because this changes the size of the pot by an order of magnitude!
3) If your opponents are calling station preflop and weak tight post flop, you can take the pot a large amount of the time without hitting. And because of your raise, you take down a larger pot.

There are also reasons not to raise:
1) If your opponents are calling stations that will call with any piece of the board regardless of the texture of the board, then you will probably be able to get in when you hit anyway by overbetting somewhat, so you do not need to put money in the pot when still drawing.
2) If you have a lot of limp-reraise types at your table then checking is fine.

Anyway, the flop in this hand is extremely bad for your hand. You have flopped an idiot end OESD where you use only one hole card. It is unlikely that this is the best straight draw out. There is also a flusdraw out there. And fives will give other people straights, so hitting a set isn't gonna help you either. So you would need a runner runner full house to win. But in this case somebody will probably throw a large bet in on the turn and then you do not get the odds to call anyway. Combining all this makes this a clear c/f IMO.