200NL inside sfdraw in small pot vs. strong c/r

[Merlinius]

NL $1.00/$2.00

SB ($187.00)
BB ($58.00)
CO ($76.95)
Button ($191.85) (Hero)

Preflop: Hero is Button with 8[img]/images/graemlins/heart.gif[/img], T[img]/images/graemlins/heart.gif[/img]
CO calls $2.00, Hero calls $2.00, SB calls $1.00, BB checks,

Flop: J[img]/images/graemlins/heart.gif[/img], 7[img]/images/graemlins/heart.gif[/img], 4[img]/images/graemlins/diamond.gif[/img] ( $8 )
SB checks, BB checks, <font color="#CC3333">CO bets $3.00</font>, <font color="#CC3333">Hero raises to $12.00</font>, <font color="#CC3333">SB raises to $47.00</font>, <font color="#666666">2 folds</font>, Hero?

SB is a reasonable 26/10 player who did not get out of line in any of the hands I have played with him in the past which are quite a lot.

Against a set I have only 35% equity. If I add top 2 pair as well as top and bottom pair to his range, my equity is about 40%. I don't see much fold equity and very little chance he has a hand weaker than top and bottom 2 pair.

I'm uncertain whether a shove is the right decision here because of the small pot and the arguments mentioned above. What do you think?