Of course a V8 is cool to have, but I've seen many scary conversions that were done in a walk in closet with a stapler and a swiss army knife. Just be sure that you plan on taking at least 3 months to complete this conversion.
I have no experience with V8s personally, but my advise it to take it slow, research in depth, and do a A+ job so it will be reliable and give you many years together
BigMike