[franknagaijr]

Welcome, and might I say this is a very well written post #1. You have single-handedly rebuked DaveBreale's laments.

Because this is a public MTT, the thought process will be slightly different from that of a cash game, and your concerns about likely holdings of your opponents will be morphed into concerns about goofball holdings that are clear folds to a studied player, but seem to find their way to show down. In the case at hand, my thinking would be as follows:

1) Preflop - make a pot-builder raise. You're unlikely to drive anybody else, and you can continue building your half of the pot if you flop favorably.
2) Flop - In a cash game, you might be worried about being quartered. At this level of an MTT, I would assign a much higher probability of your low being unique here. You will regularly find unstudied players who are excited about any qualified low, and will call to showdown with terrible lows and no real draws for high. Since you also have a wheel draw, counterfeit protection, and middling flush draw, pump it up!
3) Turn - We have a reasonable chance of scooping with this hand, as opposed to this same situation in a cash game. With some frequency, you will see even worse heart flushes than what you have, and sometimes players with a straight will refuse to drop out. Pump it up!
4) River - a mild bummer, but we're probably still okay for unique high. You can slow down here, unless you've seen enough hands to be certain you're playing with morans, in which case you pump it up.

BTW - I believe the correct term for receiving 1/8th of the pot is 'octivated'.