I am the Bad Beat King!

[sjay2k]

It's actually a good call in my opinion.

On the flop it cost you $12 to call for a pot that was slightly under $100. Odds for turning the Q is 4/47 -- however if you hit the straight, you'll have the nuts in a hand with four other players who are betting like madmen. Since the turn and river are the big betting rounds, I think you're assured of at least another 10 big bets ($60)

So basically even paying the full $12 on the flop is a good move. Your average return on the $12 in this situation is at least 4/47 * $160 = $13.61. There was a chance that you could have seen the turn for $6 (your original call before the re-raise), and that would be even better.