A lot is riding on the N8. In short, Nokia future will be defined by this device. If it turns out to be an epic failure like the N97, then lets say, its all over for the Finnish giant. If however this turns out to be a success, it will give Nokia another opportunity to prove to the world that they are capable of producing quality phons even now.
Although individual bloggers had already come up with pretty good positive reviews of the N8 (thanks to Nokia's "trial a phone" for free sweetness), Techradar's (a much more reliable source for reviews than individual blogs, and more recently even CNET's) detailed review of the phone has bared it all. From what I understood from the review here are the conclusions regarding the N8 -
Pros: good camera, good build quality, good battery life.
Cons: oh well, the same old ones to be honest. Okay you start checking if I miss anything. Symbian^3 is primitive, not nearly as good as android or ios interfaces, severe shortage of apps, sloppy internet experience, okayish touchscreen and physically "heavy". Apparently its much heavier than the likes of iPhone 4.
And from the look of things, the reviews arent going to get any better for Nokia. As someone said on a personal blog, had this phone been released a couple of years back, it would have blown everything else, but in 2010, there are simply way too many better phones out there for the N8 to even remotely create an impact.