What do you guys think?

No, I dont think so. It's unfair for the strikers. If they get taken down and put in an armbar they wont stop the fight, give him 8 seconds to recover. I say nay....

That's a good point, but armbars and such are fight finishing moves. When a guy gets knocked down, it shouldn't always be the end of the fight.
The only reason why I'm asking is because I just saw a clip of Pulver vs. Palling over in Shooto, which allows the standing 8. After Pulver floored Palling for the first time in that match, Palling was able to get back up and come back strong. If that fight were in the UFC, they would've stopped the fight. Just my opinion.

I dont think it should be over as soon as it hits the ground, but if the guy isnt all there or intelligently defending himself from being pummeled it should be over....

The UFC is supposed to be as much like a street fight as possible. I think the standing 8 count is a bad thing. Once you are knocked in a fight, you are done. You don't get a standing 8 count.

Never