play low suited flush draw as 8 outs?

This flush talk brings up a question how to play low suited flush draws pot-odds-wise. If both turn and river hit your flush suit then you probably lose to someone's overcard! (credit qwerrk) How often does this happen and does anyone pay attention? Maybe you'll say don't get too excited about these hands in the first place, but I had to figure it out:

1081 = Total Turn+River draws (47 choose 2)
342 = Total draws that hit ONE card (9 choose 1)*(38 choose 1)
36 = Total draws that hit BOTH cards (9 choose 2)*(38 choose 0)

This is the hard way to get to 34.97% but you don't want those 36 draws that screw you (3.3% of draws) so really you have 31.6% draws that hit payday.

So...since an 8 out draw is 31.45% chance does that mean play all lower-suited flush draws as 8 outs?

I do find it interesting that if you don't have a suited face card in the hole, then you actually have ~8 outs for the two-card draw. Maybe no one really calculates pot-odds over two card draws anyway because it is hard. Is the 'four' in the rule-of-two-four wasted? The river bet ain't free, and thinking ahead to future bets sux. Perhaps people who actually calculate pot-odds on a draw treat each card as if it were their last (4-1 on the Turn, and 4-1 on the River). But the Turn bet could go higher and still stay within the 2-to-1 across both cards.

No matter what, if you don't hold the nut flush, and the Turn + River hit the suit, then the betting gets real interesting. Who holds the overcard? The few times this has happened I wished that I was prepared to bluff like I had the ace but I was too wimpy and slow. In early position a decent quick bet might just take it. If raised, then bail!

-dover