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Hitting F8 gives you the choice to boot from a device,not from a partition.That is how i handle my dual boots,i don't mess a lot with bootloaders.
Installing whatever OS on that partition will create the necesity of a bootloader.
Yes,you can install Win8 there,but before do a back up and make yourself a live cd/usb with Plop Bootmanager.
Will give you the posibility to choose the device AND the partition from where you want to boot to.Then get to your "old"OS and add a entry to your bootloader;EasyBCD is what you will need.