Were they solid players are crazies at a micro table who could care less?
The answer to your question of whether it was a good fold depends on the above.

Frankly, I would have been wary of Shetland's overcall of the raise on the flop and would have let it go at higher stakes.

However, at that level people play any Arag for all their chips. I would have put him on AK or AQ or A10 or Acrap and paid off the set in the worst case. In any case, not a bad fold on the flop with the raise and overacall. You didn't know what the turn was going to be.

Fianlly, you made a big mistake on the flop with that small .20 bet. You should have bet pot, 3/4 pot or check raised that flop.