I was using 8 players since you said both blinds were loose. 5 limpers + 2 blinds + you = 8 players.

Responding to the other post, the wheel is less than 1% as are the 33x etc flops. All together they might make up a few points.

You're building the pot which might encourage others to stick around while you make your hand. You'll certainly be able to raise for value if you pick up a 4 flush on the flop. With this many people and the pot that big, you might be able to raise for value on the turn even if you miss.

I think this is one of those situations that Ed would say doesn't really matter that much in the long run.