Is this game beatable?

[zomski]

I recently went to Star City Casino, pretty much the only place I can play cash games in Sydney Australia.

I played the $80 buy-in NL Hold'em game.

The blinds are $1/$2, there are 10 players, a 10% rake (max $8) as well as a $5 time charge every hour. The game is very loose with some very aggressive players. I would say I am a better player than about 2/3 of the field.

My bankroll is probably at most $1000 and I am wondering is this game beatable with such a high rake?
What sort of win rate could a good player get with this structure?
Is the variance be higher in a looser game?