I played a ton of these years ago when Pokerstars
first came out with them. Here is a few of my thoughts on them in no particular order.
1. Watch the vig charged on these. Like any poker this makes a big difference on your bottom line. Some sites charge over 10% at the lower stakes. At 10%, you need to win 55% of these to break even. The best players are only winning 60-65%. I'd be very surprised if there are players with a significant sample size winning 75% of these. Ideally you like to find a site that only charges 5-7.5% vig on these.
2. I'd player tighter than I would playing a normal SnG. Remember you are only trying to beat half the field and not win the whole SnG.
3. Be prepared to fold big hands. There will be lots of times you will be required to lay down AA. For example, your 4th in chips and 6th place guy has a 1.5 big blinds, I'd just muck AA the majority of the time here unless I was heads up against the shortie.
4. Similar to #3 is don't be the sheriff if you are the chip leader or have a nice healthy stack. Say you get lucky and get some good hands and you sit at 4500 chips with 6 or 7 to go. It's not your job to take out the remaining 1 or 2 players. You are going to make the money a vast majority of the time. Why risk it? I can't tell you how many times I've seen the chip leader get all in with AJs against 88 and loses the flip. Now he's down under 3000 chips and he's put unnecessary risk on himself to make the money. You don't get paid extra to be the hero for the rest of the shorties at the table.
4. It's extra important to identify the players that you can steal blinds from later. In particular know if you can from the 3 guys to your left. You will need to steal blinds later around the bubble.
5. Finally, this goes without saying and ties into everything above but know where you are around the bubble will make a huge difference on you bottom line. This changes from round to round and even hand to hand. Who has the pressure on them? Who is going to take the blinds before you? Don't be the guy that went out 6th when you didn't have to.