AK OOP: Hand review and questions

[floppy]

Full Tilt Poker - No Limit Hold'em Cash Game - $0.10/$0.25 Blinds - 5 Players - (LegoPoker Hand History Converter)

SB: $52.90
BB: $27.90
Hero (UTG): $35.70
CO: $25.35
BTN: $29.85

Preflop: Hero is dealt A[img]/images/graemlins/club.gif[/img] K[img]/images/graemlins/spade.gif[/img] (5 Players)
Hero calls $0.25, CO folds, <font color="red">BTN raises to $1.50</font>, 2 folds, <font color="red">Hero raises to $4.85</font>, BTN calls $3.35

First question: What's villan's likely range? I don't see any non-pocket pairs.

Flop: ($10.05) 4[img]/images/graemlins/diamond.gif[/img] 7[img]/images/graemlins/heart.gif[/img] 2[img]/images/graemlins/heart.gif[/img] (2 Players)
Hero checks, <font color="red">BTN bets $7.00</font>, <font color="red">Hero raises all-in to $30.85</font>

Second Question (please try to be kind, I'm trying to work this through): If I stick with my initial read, should I just c/f?

Third Question: If the 7 were a Q, does this turn into a good play?

Preflop: I'm sure I'm going to get grief for playing it the way I did preflop. I wanted to try out a c/r pf and, well, let's see: I created a big pot OOP that needed to hit the flop, and I folded out all hands that I dominated. Not good.

I seems to me like the only time this could be a good play would be against a villain that's willing to call me down with less than TP/TK, but if that's the case it's probably only slightly less easy to do it with a pot on the flop that's 1/10th our stacks as on that's 2/5ths.