OK, I don't play live much so my chip estimates will be very, very rough but this is the general gist of the hand.

We have sat down at the final table 8 handed and have played about 6 hands. One guy was pushing all in alot and when called busted. Despite average player having M<5 there are still people calling preflop!

6 players now remain (just hit prize fund). Blinds are 1k/2k.

UTG - 4kish chips and folds
UTG+1 (Me) 12kish chips and dealt AQs
Next up - 60kish chips - huge chip leader, I was shocked he didn't even open raise on button vs 2 shortstacks and seems to be playing simply his cards not trying to bully or call shorties to try and bust them.
Next - 3k. This guy CALLED on button for 40% of satcjk then folded on flop , he also folded his SB and BB and I'm sure will even fold this unless he has good hand despite small chipstack
SB - <5k - Also seems tight passive so far
BB - has 15kish This guy can play, Im sure he'll fold if I push with out very good hand due to my stack almost knocking him out.

Payout is:

6th - £80
5th - £110
4th - £130
3rd - £170
2nd - £210
1st - £420

I have obviously got M of <5, however I have enough for couple rounds so should I be folding and waiting for couple of players to get blinded out or should I push?

M of 4 at a rather tight/passive table....I don't see what the dilemma is here?

Well I obviously pushed. The chipleader called with KJ. As it happened I won the hand and went on to a 3 way chop for 1st. However I was thinking did I need to put my tournament life on the line in a 60:40 shot? Had he called with any pair I would have even been less than 50:50 and as I could have folded my way to 4th I wonder if long term it was worth gambling?

Ok, I can see your point. Theres a good chance that some of the short stacks are going to start dropping off so do we really want to risk being busted by the CL when we might be able to coast our way into third.

But I don't like that kind of mentality. I've made the money so I won't be disappointed if I bust here and it's not a big enough difference between 6th and 4th for me to change my play based on payout structure. Honestly, I think if the CL had told me what his hand was and told me he would call, I'd probably still push here.

push

I play Cash Games for a living.

I play about 1 tournament a month.