I play in live games like this a lot. What you posted is a lot like how I play, except I like raising with more hands preflop, especially if people aren't used to it. For instance, if there are 4 limpers and I have a small Pocket Pair, I may bump it up to build a hugh pot if I hit my set. I know this seems like throwing money down the drain for something that happens 1 out of 5 times, but these bloated pots cause all kinds of people to chase, and this is a situation where you want lots of chasers (in general) because its hard to draw out on you.