the 8" is limited to about 300 hp reliably. Gear selection is scarcer than for the 8.8 or 9". Its kinda the bare minimum for a V8.
The 8.8 is a good rear, there is a good selection of gears, and lots of aftermarket support thanks to the 5.0 guys. Aftermarket axles, limited slips/trac-loks/posi's, and lockers are readily avaliable. Some came with disc brakes too. However, most 8.8's came from cars with a totally different rear suspension design. This means you'll have to cut off the factory brackets and weld on new perches for your leaf springs. 8.8's can also be found in explorers, rangers, F150's, etc. These all have leaf springs, but the perches are too far apart so you still have to install new ones. In addition to all that, there are many different lengths and several different axle configurations. The 8.8 is strong enough and can be made to fit properly, but it can get involved.
Now the 9", regarded as the rear end of choice for racers and rodders for a long time. Gear swaps are easy, wide selecion of gear ratios, an assortment of aftermarket performance axles, and a wide selection of traction devices(trac-loks, lockers, etc.). This wide selection of parts means that parts are cheap and readily available. Most 9" housings are too wide, but there are some that are the right length to fit your car. Check out ultrastang.com for more info on the 9."