[MarkD]

My take on this is:

On the flop if more than two players are going to call I'd put as much money in as I could because you mathematically gain a portion of each bet put into the pot in this situation. If less than two were going to call then I'd try to keep it cheap because you are losing money with each bet that you put in (but you are likely still gaining money overall because of the cash already in the pot).

On the turn I need > 4 players to try to put the maximum in (4.2:1 against you hitting now). Less than 4 I'd keep it cheap.

Quick math for the turn assuming 4.2:1 against you hitting.

EV = # bets * # callers * 1/5.2 - # bets * (1-1/5.2)
EV = 4 * 5 * 1/5.2 - 4 * (1-1/5.2)
EV = 0.77 (Assuming I used the calculator right, I hate when I don't have my calculator around).

You gain 0.77 bets by putting the maximum in despite the fact that you are behind atm.