Some of the advice here will also be valid for stud8, or any split pot poker.
There are many hands where PF it is worth seeing a flop, hi runners for example (T,j,Q,K) hopefully double suited are a hand you want to see a flop with, you don't want to get agressive early, but with all split pot games there will, by nature, be a certain amount of chasing involved.
So the T,J,Q,K hand will often play well. If the flop comes low, easy enough to muck the good looking but now useless pretty big cards.
Lo runners (ex 2,3,4,5) will be gem hands, and if you have an Ace all the better.
But it never ceases to amaze me how many people play middle cards in a HI/LO split game. Granted every now and then those middle hands will hit, and hit hard, but more often when they do hit, they will be counterfeited somehow, i.e. higher str8, bigger flush, lower low, along with the ever present danger of a paired board producing a boat.
IMHO, the split pot games can be profitable if a cautiously aggressive style is used. You need to watch what is going on, in the stud games you need to figure out what can win, what you have, and if there is really any way villain can take the low given what cards are shown.
Then there is the rake issue. If the board is ugly, and is 2,3,4,5,6, and 3 people are pushing, you can figure that the one with the higher str8 or flush will be encouraging the betting while one of the low nuts will be reciprocating. You, (nut lo) should be trying to stop the betting because you know you are splitting the low and for every buck you are putting in, there will only be 95 cents to take out (rake).
If you are sure you have a single end of a pot, meaning you are the nut high hand, and don't figure anyone else duplicates you hand, and you have 2 or more contending for low, then you must push hard.
If you think you may match low, then you want to stop the betting from getting out of control.