How much of an edge do you need?

[Namebejed7]

Recently I played in a Party multi, of course around 1000 entrants, and found myself with my starting 1000 around the first break. I caught a suited ace, limped in, then had two stacks that covered me go all in on the flop, though there was more to it (although not the point). It turned out that I was 2.5:1 to make my hand getting laid 3.2:1 by the pot, and I liked my situation because I wanted to triple up or get out anyway at this point.

I lost, no big deal, but as I was reviewing my tourament and especially this last hand, my thoughts eventually went to wondering how much of an edge should I be looking for? I have played around with the best strategies for these large field quick blind increase tournaments, but can't figure out what adjustments to make. I make the money about 1 out of 6 multi's not break even, but haven't scored a huge win in almost a year.

I feel like I am better than the majority of the players, and try not to call thier all in's except when a huge favorite, but "huge" doesn't happen all that often. What do you guys look for as far as an edge?