I think the long term expectation in these for a good player is probably around 50%, but that being said if you are playing $26 MTTs or 45s, then this is a great way reduce variance.
My wife has run quite a few of these and I think she cashes about 50% of the time. She takes the tokens to the Tier 2 18-mans which pay the same ratios but pay out $75 tokens, then she takes those tokens to the $75 single table SNGs. She has made it to the $75 step 4 or 5 times, with at least 1 win and at least 3 cashes I believe.
If you play 38 of the $8.70 Turbos and win 50% you will have 19 $26 tokens. If you can cash 40% in the $26's. you should come out with 7 $75 tokens. If you win 1 (or 1 second and 1 third) of the $75s you break even. Any additional cashes are all profit
