SnG: How good is 3-pair with gutshot?

[FoldALot.]

Little low-stakes SnG. Big stack has been fairly loose. Got his huge stack in 3-way all-in with top set.
I don't think he has to have T9. Even if he has it, I'm not that much of a dog.
Of course he could have a set also. But considering my holding it's not too likely. Or is that a misconception in Omaha?
Anyway, my guess is it should have been an all-in move.
Or fold preflop maybe. [img]/images/graemlins/tongue.gif[/img]

Full Tilt Poker
Pot Limit Omaha Tournament
Blinds: t60/t120
5 players
Converter

Stack sizes:
UTG: t6205
Hero: t1210
Button: t650
SB: t3130
BB: t2305

Pre-flop: (5 players) Hero is CO with Q[img]/images/graemlins/club.gif[/img] 8[img]/images/graemlins/spade.gif[/img] 9[img]/images/graemlins/diamond.gif[/img] J[img]/images/graemlins/spade.gif[/img]
UTG calls t120 <font color="aaaaaa">(pot was t180)</font>, Hero calls t120 <font color="aaaaaa">(pot was t300)</font>, Button calls t120 <font color="aaaaaa">(pot was t420)</font>, SB calls t60 <font color="aaaaaa">(pot was t540)</font>, BB checks.

Flop: Q[img]/images/graemlins/spade.gif[/img] J[img]/images/graemlins/club.gif[/img] 8[img]/images/graemlins/heart.gif[/img] (t600, 5 players)
SB checks, BB checks, <font color="#cc0000">UTG bets t480</font>, Hero ???