I was an early adopter of the M8. Bought two of them 2 years ago, one black, on silver. I LOVED it and used it daily for 3 months when I had to sell due to a financial disaster and cross country move. I sold my M8, 50 lux, 35 cron and 21 elmarit and a few other Leica Items. Got $15k for it all and used that for a down payment on a new home. Since i sold it I missed it dearly. I ended up buying a D700 when that came out along with some Zeiss ZF glass (when I was in a better financial position) and at 1st thought it was the best camera ever created. It has all the res I needed, speed, great body, great files, etc. But after a month I always left it at home as I did not want to lug my huge heavy bag full of lenses and camera with me all the time.
I used to shoot paid jobs such as weddings, portraits, web work, etc. I no longer do and due to that the D700 just stopped doing it for me. I decided to sell it all and have nothing. My wife, knowing how much I missed the M8 decided to buy me one along with a 28 Elmarit and 50 Lux ASPH. Now, we are not in the best $$ position right now, actually the worst of our married life BUT she did it and after 3 days of feeling guilty and horrible about the cost I have found the joy of photography again. The M8 with two small M lenses is light and easy to take with me. It does not feel like a weight around my neck and I have no need to carry a bag at all. It has gone with me everywhere these past two weeks and I have gotten shots I would of never of gotten with the D700 as I would of never taken it with me. As for file quality, I have taken a ton of shots with the D700, RAW and JPEG. I sat for 3-4 hours one day comparing my D700 RAW files with my M8 RAW files and I liked the detail, tonality, color and depth of the M8 files better. Also, I find the M8 works great as a high ISO B&W camera. No it does not do macro, doesn't do tele well and its ISO is limited compared to the 5DII and D3 series.
What the M8 does/did for me is make me want to go out and shoot. It makes me happy, gives me the best results i have ever gotten from any camera system and never gives me an OOF shot (like my old 5D did) - I really love the M8 and can see myself using it happily for years to come (if it doesn't break down!). I have never had one issue with any of my M8's and the IR issue is a non issue to me as I have filters on both lenses. if Leica can produce an M9 that is FF, has an external ISO dial, larger/better LCD and add in some weather sealing and D700 like ISO capability I think they could go 8-10 years until an M10. Those are the only things I would improve on the M8 to an M9. I'm not really sure what the M8.2 was all about as i feel they should of waited for those improvements until the M9.
Bottom line is many people own the M8 and prefer it greatly to any DSLR. For the same money I could of had a 5DII with some serious L glass (I used to own a 5d, 85L, 50L, 24L) but again, if a DSLR weighs a ton and is a huge monstrosity then I won't use it. If I was shooting professionally again I would be shooting with a D3x but for a non pro, the M8 is my dream camera (well almost) and the lenses (even VC) are superb. I could of had ANY camera..Sony A900, D3x, D700 (again) or 5DII but when my wife suggested the M8 again I knew that was it. I keep hearing how the M8 is 2006 technology and outdated. If a camera can take a great image and produce sharp poster size prints with great detail and color how is it outdated? It works just like many people out there still shoot a Canon 10D. The Leica works on an artistic level and emotional level and actually improves ones photography as well. It has many more pros than cons and while I used to change camera systems every time something new and better came out, I no longer have the desire to do so.
So many will sell their M8's but when an M9 comes out they will flock back to it only to sell it for whatever else is up and coming and new. To those selling it, I would suggest keeping your Leica glass though. That way when you do come back to an M9 or whatever you will have some lenses that will be worth a fortune and you won't have to shell out thousands for new versions!
Here are a few of my recent M8 shots, all with the 28 Elmarit ASPH.