Old forum discussion, message now gone, but here's the summary
Matt with Grass Valley Canopus in their tech support department stated that the model 110 will suffice for most hobbyist. If a person has a lot of tapes that were played often the tape stretches and the magnetic coding diminishes. If your goal is to encode tapes in good shape buy the 110, if you will be encoding old tapes of poor quality buy the model 300
Both the 110 and 300 are two way devices so you may output back to tape... if you don't need that, look at the model 55
http://www.grassvalley.com/products/advc55 One Way Only to Computer
http://www.grassvalley.com/products/advc110 for good tapes, or
http://www.grassvalley.com/products/advc300 better with OLD tapes
ADS Pyro http://www.adstechnologies.com
Capture will be DV AVI Type II with 48KHz 16-bit Audio
I agree with John. You can't go directly from Hi8 (an analog format) to digital video on a computer.
The best solution is a DV bridge, which captures your video as DV-AVIs, per the FAQs to the right of this forum.
With 8mm, it also may be worth checking eBay or Amazon for an old Sony Digital8 camcorder. Many of these wonderful old cams (look for the "Backwards compatible" feature) not only shot in digital video, but they also could play 8mm and Hi8 videos over a FireWire connection, doing a beautiful job of digitizing analog video so that it looks just like digital! I keep an old one around for digitizing my 20 year old 8mm tapes when I need an old clip.