I have had my press set at 15 tons, 20, and 22. The 15 would get the job done, almost, but you could stop it with a billet as it cooled. There was a BIG difference between 15 and 20 tons, and even a bit more yet at 22. The higher the tonnage, the more work per heat, and that benefits the steel.
While you certainly don't need 30-40 tons to pattern weld steel, I personally think you'll find that 8 tons is a bit light in the long run. However, for $150 you'd still have a logsplitter if it didn't work out, or you could sell it again. It cost me about a grand to build mine, a clone of Buxton's built by Ron Duncan, Bill Buxton and a little work from me.