I personally don't try to say my preflop % should be below a certain percentage. I look at the table, my cards, and try to decide if I am going to get the odds (including implied odds) on a mediocre hands. When you are above $0.50/$1.00, you should decide often that you will not. If the table is tight (two callers) and you're stuck with KKxx, you should be more reluctant to play it, because you really need to flop a king (or str8 draw if the x's are connected) in order to go anywhere at all with the hand. If there are not enough callers, you will just trickle away your stack. Going back to KKxx, if two or more people call ahead, get in the pot and see happens, and maybe raise to see if you can get position.

At higher LO8, you are going to be facing tight situations more often than not. 25-26% seems like a high percentage on a tight table though, because on a tight table, you really need to limit yourself to cards that stand a high percentage of beating AAxx, and A234, etc. I don't see those kind of cards coming up that often, but I have never done the math on that. KK won't do it that often, but when you play hands like 9-10-J-Q, you may want to get in there for a cheap flop, b/c if you connect there is a strong chance you're getting called (if not raised) down to the river.

That said, do not live in fear of AAxx, they are playing for the 2 Aces, hoping they hold, and a low. If you hit two pair with no low on the board, AAxx is in a world of hurt. Trust me, most higher LO8 players are tight-weak-aggressive, they wait so long for the good hands, they just can't let them go.

Also, I would guess that seeing 26-28% of the flops is not where you lost the bulk of your blinds. Seeing the flop in LO8 can be -EV, but unless there is a raise or two, the -EV is not as low as you think. Chasing when you're drawing dead, or hoping that you two pair or set will hold is probably the leak. Their is a thread here, and in Helmuth's Play Poker Like the Pro's, about someguy seeing every flop for a month and making money. You and I are probably not that guy, but if he can see 100%, we should be alright if we see 15%-25%, don't you think?