I used to have a Sony 8mm (analog) camera, and I used a Pinnacle DV500 card to digitize to AVI at about 13Gig per hour of video
I don't think your tapes are HiDef, so there is no point in converting to AVCHD
http://www.grassvalley.com/products/converters to create AVI is likely as good as you are going to get
Thanks John - for some reason capturing the tapes into PrE11 using AVI looks bad. I went to my daughters MacBook Pro and captured them into .dv format and they look much better.
Please see your other thread (re: ProRes) ProRes...? for comments of user involved with ProRes 422.mov
At least Premiere Elements 10 and later appear to support the import of ProRes 422.mov files (presumed format purchased from Transfer House)
but there is no ProRes422.mov export from Premiere Elements.