home-game no-limit structure

[gomberg]

Ok, so how's this structure for a no-limit cash game.

Blinds $5-10. Everyone ante's $5 (8 handed). Max loss per hand is $500.

What would your strategy be? If there are many maniacs in the game, is it better to just refuse to play? Obviously the biggest mistake would be to tighten up too much preflop or fold too much postflop. Thoughts?