A final table situation with 4 left on the bubble

[Meatmaw]

I understand this is a very general situation so please feel free to qualify it with assumptions in your responses.

Basically, say we're at a final table of 11 with 7 places paying. Blinds are so large that most players have between 3-5 BB. You have 8BB. My question is whether in this general situation you should opt to call two other players who are all-in in a situation where you evaluate you are getting decent odds. I.e. if you evaluate that you have roughly 30-35% most of the time of taking the pot and it is laying you 2.5-3.0 to 1 odds, should you take it? Again, I'm aware this is quite general so I'm curious what people think and I welcome stated assumptions.

For the curious, this was a move that a friend of mine played. He held KQ(s?) and does not recall if the short stack was compelled all in being BB or if he was in SB or not a blind. He does recall that a player went all in and that he felt he was getting proper odds to call figuring that he was 25-35% to win. I felt it was a terrible mistake but his argument was that losing would put him at 4BB, still playable against the others to a degree, but winning would put him in a very strong position to dominate.

I'm not looking so much for a response as to whether he made the right move or not but more general thoughts.

Thanks.