[Todd Terry]

Making the liberal assumption that preflop the people behind you are calling with any suited connectors or one-gapped cards, on the flop, the probability that you're up against another flush draw given that 2 cards of your suit flopped is 3.12%. Given that you're both chasing the flush, it's going to come in after the flop 29.0% of the time. So you're going to have flush over flush on the turn or river .0312*.290 = 0.85% of the time. And, assuming the responses of this board are somewhat representative of your opponents in a $1K event, a smaller flush is getting folded 70% of the time on the river to your C/R. So you're maximizing your payoff by playing the hand this way 0.0085*0.7 = 0.59% of the time, or 1 time in 168.