Does he fold overpair often enough to be profitable?

[People_Mover]

Full Tilt Poker - No Limit Hold'em Cash Game - $2/$4 Blinds - 8 Players - (LegoPoker Hand History Converter)

SB: $396.00
Hero (BB): $757.90
UTG: $507.55
UTG+1: $586.25
MP1: $179.50
MP2: $400.00
CO: $295.50
BTN: $303.20

Preflop: Hero is dealt 6[img]/images/graemlins/diamond.gif[/img] 6[img]/images/graemlins/heart.gif[/img] (8 Players)
2 folds, MP1 calls $4.00, <font color="red">MP2 raises to $16.00</font>, CO folds, BTN calls $16.00, SB folds, Hero calls $12.00, MP1 calls $12.00

Flop: ($66) 7[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/spade.gif[/img] 5[img]/images/graemlins/diamond.gif[/img] (4 Players)
Hero checks, MP1 checks, <font color="red">MP2 bets $40.00</font>, BTN folds, Hero calls $40.00, MP1 folds

Turn: ($146) 8[img]/images/graemlins/spade.gif[/img] (2 Players)
Hero checks, <font color="red">MP2 bets $75.00</font>, <font color="red">Hero raises all-in to $701.90</font>