Well for one, I hope your archiving your video to some sort of digital format and not leaving it on your tapes, they ALL will degradate over time if you leave them on tape.
Secondly, they are STILL making NEW Hi8/Digital8 format, so I don't suspect that format will be going away any time soon. Heck, it was just last month I saw a brand new VHS-C camcorder in Best Buy, so they are evidently still making that format as well.
I am archiving all of my stuff, going through doing rough edits (cutting out all the crap where I accidentally put the camera down and left it on, etc), and putting it full AVI on DVD. If you get a camera that does DIGITAL8, not just straight 8mm analog, you should have firewire capabilities, and can rip the video straight out in AVI format. In that case, there are no issues editing in NLE whatsoever. Why anyone would even WANT to edit on their camera is beyond me. It's hard on your camera, it's hard on your camera video heads, it's frustrating to the user, it's limited in abilities. Some sort of NLE software on the PC/MAC is the way to go when it comes to editing.
Again, remember, don't confuse 8mm analog with 8mm digital. 8mm digital is comparable (at least on the Sony cameras) to the miniDV in digital quality, it's just the tape is different, and the 8mm tapes are cheaper too. They are both a magnetic tape based media.
All that said, sure, if you can afford it, go for a higher end miniDV camera, but if you looking for a fantastic camera with tons of features on a budget, you will be hard pressed to beat the features/price ratio on some of the older high end Sony cameras. Sure it's not the latest and greatest, but how many beginning chasers can afford a VX2100?
You couldn't GIVE me one of the Sony Digital8 cameras on the shelf now, solely because they have made them where the tape loads from the bottom, which means removing the camera from the tripod mount just to change the tape, a MAJOR PIA! Whoever came up with that design idea should be taken out and tarred and feathered!
EDIT: Wanted to add that remember, for the most part, in the end it's the photographer that makes great video, not the camera. I have seen fantastic video shot with low end consumer stuff, and I have seen some absolute CRAP shot with $30k HD video cameras. You need to hone your skills or you will never be satisfied with your video regardless of how expensive your equipment is. :wink: