Yes, there are a ton of threads covering every aspect of the 8ight (and just about every other 1/8th) conversion. I probably spent 4 hours reading before I pulled the trigger on my setup. Here's a few helpful ones. But you'll have to do some reading:
http://www.rctech.net/forum/electric...elections.html
http://www.rctech.net/forum/electric...sion-kits.html
http://www.rctech.net/forum/electric...sion-kits.html
Most popular setups I've seen:
Mamba Monster Max V.3 (MMM) w/ 2200KV "Neu inspired" motor combo. Most would say this is one of the best setups for the money out there right now. The ESC has to go through 3 revisions before they finally worked out (hopefully all) the bugs which kind of sucks. I haven't heard of any problem with version 3 though.
http://www.castlecreations.com/produ...a_monster.html
Mamba Maxx with a variety of Neu/Feigao/etc. motors (Neu 1500 series is almost undisputably the highest quality but also the most expensive). The MM is a proven ESC that has been around for quite some time. Many with this setup are upgrading to the MMM setup though due to it's ability to handle more voltage. This is said to be a pretty solid setup and a used MM can be had for cheaper than the new MMM.
http://www.castlecreations.com/products/mamba_max.html
http://www.neumotors.com/2008/Root/S...0_series_.html
Novak HV Pro setups. Mixed reviews. Some swear by it, others have had overheating problems or complain about limited gearing options. It's sensored which may mean less cogging. It's about the same price as the MMM setup.
http://www.teamnovak.com/products/br...ems/index.html
Read up and see what everyone has to say about them.