I've had a real itch to play a good, classic JRPG, so just now I bought Dragon Quest 8 on Amazon for only 5 bucks. I'm just wondering how good of a game is it, and what I can expect from it. 

If it's a good, classic JRPG you're looking for, I think you've picked up one of the best. The game certainly has that classic feel to it, and it's an incredibly lengthy experience, so at $5 you're definitely getting your money's worth. One thing I will say is that the game seems markedly more difficult than other JRPGs released at the same time, but I suspect this is an intentional design choice to reflect the game's old-school tendencies. I hope you enjoy your time with it :)

Shouldn't you have asked this before you bought it?

Oh my god, yes. It's awesome. It's a really interesting mix between your traditional Dragon Quest games and Level-5's stuff (the developer). I played it right after I went through Rogue Galaxy, made by the same developer, and I found DQ8 a little more archaic by comparison, but still totally awesome. 
 
And I got it for 40 bucks, so it's an absolute steal at 5.

I played it a couple of years ago, and was my first DQ. It's a well produced game with traditional mechanics. Grinding is required. Looks and sounds quite nice, and has a charm to it.
 
I found the characters to be mostly lacklustre with a couple of exceptions, but they're still all shallow and hard to care about. Story was pretty boring and predictable. It's too lighthearted for it's own good. It doesn't really get dark and there's never a sense of urgency, so it's hard to get engaged at any point.
 
Overall, it's mechanically sound, but character and story-wise, Final Fantasy IV did a better job back in 1991. It's servicable if you need something to kill time, and it will take up a lot of time. I just don't understand why a few people hold it in such regard.
 
EDIT: I also decided not to bother touching the series again, unless there's any significant change at some point.

Dragon Quest 9 is sooooooooo much better. But, whatever.

Loved this game. The last quarter of the game might be one of my favorite things ever. I don't want to spoil it, but if you're into this kind of game and the graphics don't turn you off, it's definitely worth your time.

It's the best RPG of the decade.

" I played it a couple of years ago, and was my first DQ. It's a well produced game with traditional mechanics. Grinding is required. Looks and sounds quite nice, and has a charm to it.
 
I found the characters to be mostly lacklustre with a couple of exceptions, but they're still all shallow and hard to care about. Story was pretty boring and predictable. It's too lighthearted for it's own good. It doesn't really get dark and there's never a sense of urgency, so it's hard to get engaged at any point.
 
Overall, it's mechanically sound, but character and story-wise, Final Fantasy IV did a better job back in 1991. It's servicable if you need something to kill time, and it will take up a lot of time. I just don't understand why a few people hold it in such regard.  EDIT: I also decided not to bother touching the series again, unless there's any significant change at some point. "

I have a copy in my living room, but I've never touched it. I don't mind the difficulty or the traditional turn-based combat, as that's what I like in a good RPG. But the story doesn't seem all that interesting, and I'd probably stop playing halfway through.

" @MajorToms: Well I did like DBZ a lot when I was younger, so I'm cool with the graphics. 
 
@Steve_C:  Well I'm not expecting something amazing, just a time killer. All the con's you listed are really not to big of a deal since I only paid 5 bucks. 
 
@TheMustacheHero: If I had a DS I'd probably get it. The only thing about that game that bothers me, is that you create all your characters. When I play a JRPG I like to see a lot of character interaction and development. "

damn the last couple of boss fights are hard....very hard compared to the rest of the game personally.