AN ATR42 ON TKOF AND CLB FROM BEEF ISLAND; VI; MAKES A LOW; EARLY TURNOUT IN PROX OF TERRAIN TO AVOID A CESSNA AHEAD THAT IS DETECTED BY THEIR TCASII. TWR HAD GIVEN AN ADVISORY OF THAT TFC DURING TKOF CLRNC.

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WHILE BACKTRACKING ON RWY 7 TUPJ; WE WERE CLRED FOR TKOF AND ADVISED OF TFC UPWIND (A SINGLE ENG CESSNA) WHICH HAD TAKEN OFF JUST BEFORE WE WERE CLRED ONTO THE RWY. SINCE THE ACFT WAS BEHIND US; WE REPLIED THAT WE WOULD BE LOOKING FOR THE TFC. AS WE TURNED AROUND AT THE END OF THE RWY; I FELT VERY RUSHED TO COMPLETE TAXI AND TKOF CHKS. AS WE ROLLED; NEITHER PLT WAS THINKING ABOUT THE CESSNA. AT APPROX 500 FT (AGL AND MSL); I NOTICED THE CESSNA ON TCASII DIRECTLY AHEAD. IT WAS CLR THAT IF WE CONTINUED ON THE STANDARD INST DEP; WE WOULD CLB UP INTO HIM. I LEVELED OFF AND CALLED OUT THE TFC WHICH WAS ON TCASII. WITH OUR BUSY TASKS INSIDE THE COCKPIT; NEITHER PLT COULD PICK UP THE CESSNA VISUALLY. THE CAPT CALLED FOR AN EARLY TURN AS WE CONTINUED A GENTLE CLB (PARALLELING THE CESSNA'S CLB). AN ISLAND TO THE N OF THE RWY CTRLINE DICTATED THAT THE L TURNOUT START ABOVE 1000 FT; BUT SINCE WE HAD THE TERRAIN IN SIGHT WE STARTED THE TURN AT ABOUT 700 FT. I FLOATED THE TURN TO GO AROUND THE ISLAND; EVEN THOUGH THAT WOULD EAT UP LATERAL SEPARATION. HOW DO YOU SPLIT THE DIFFERENCE BTWN TERRAIN YOU CAN SEE AND TFC THAT YOU CAN'T? WE FINALLY PICKED UP THE ACFT VISUALLY AT OUR 2 O'CLOCK POS AFTER TURNING ABOUT 45 DEGS OFF RWY HDG. WE NEVER HAD LESS THAN 1000 FT VERT SEPARATION PER TCASII. EVEN THOUGH WE NEVER GOT A TCASII ALERT; TCASII WAS THE SINGLE FACTOR THAT AVOIDED A CLOSE CALL. IT BROKE THE CHAIN CREATED BY OUR FAILING TO LOOK FOR THE TFC BEFORE WE STARTED ROLLING. RUSHING THE OP STARTED THE CHAIN.