Don't underestimate having an adequate bankroll. You can take shots if you want, but you must be prepared to move back down really quickly if you lose a couple buy-ins right off the bat. I would try to get to 20 buy-ins before you try the $3.40s.

The point of adhering to bankroll rules is preventing yourself from going bust. If you can afford to reload your account if you lose all your $, play whatever you want. If you don't want to reload, be smart and have lots of buy-ins.