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It's a 5 rb to a $55 tourney? that seems really silly and my gut says correct strategy is to play something else, but maybe they are super soft and you're playing them for T$s. Maybe people fold way too much? But if you're doing that, you should be answering this question, not asking it.
Regular speed I always rebuy for the max because I figure it's more likely I'll have position against deep fish vs being OOP vs a good player. Also generically vs MTT ave guy I feel good about the hands when the extra XX BBs get played. If I were to sit down at a 20+ RB and no one re-bought except some MTT stud behind me I might not RB right away. But even there it would suck to have two fish double the second hand after you accidentally 300 chips in the first. In practice I don't think I've ever not doubled.
I don't play many of these crazy RB turbo things but every time I do I def get confused about whether it makes sense to RB for 15 BBs or whatever, and that's in a normal structure with a 1st place. In these sats I'm thinking it probably doesn't. But I would think the first BI should still be double, you just maybe should not buy back in at all once the blinds get over X. And you would need to do some math on what you can afford to spend total based on whatever your edge seems to be.
Also it probably depends how close you are to cashing after the RB period ends, and what the ave stack will look like.
Oo one more think, I am guessing most players are probably people sat-ing in from like a .10 sat and not rebuying at all, in that case surely the first RB would be really +EV.
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