[Nfinity]

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I don't really think you can protect this hand all that much here. Anyone behind you is getting 7.5:1 to call your raise, which is easily enough to call for their 4.1:1 shot of hitting another diamond, and provides more than enough overlay for the times that their flush is beaten by a bigger one.

So no, I very seriously doubt you'll be folding hands like those you describe. But, this should still be a raise for value, because most of the time that last diamond won't come in and you'd like to collect money off them while they are drawing live.

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It's 5.6:1 if someone has another diamond behind you.

And if you don't raise your offering that same draw 14:1.