Question about playing on the bubble

[wpr101]

Hi. Assume there is 4 people left in a 10 person SNG. Chip counts are about 2300, 2200, 1000, 800. I am the one with 1000. The guy with 800 was folding everything but the BB. Should I try to wait him out till he gets knocked out. I figured since he wasn't pushing he would have to win atleast one coin flip/all-in before he caught up to me. In reality, I waiting him out and got third. I lost on a coin flip... so overall I was pretty happy with my performance. What do you guys think about this?