Now that I've been using Fedora 8 for a few days, I can comment a little more on it. I've been regularly running "yum update" and I can see that the packages are being very actively updated. The issue of the kernel-header was resolved as I predicted as f8 caught up with the kernel in f7.
Unlike my experience with f7, once I got the system up I did not have to do much reconfiguring. The services are all working as they should and some of the apps feels like they're running a little more robust then f7. The small visual changes to the Gnome desktop is a noticeable improvement to my eyes, but this is all subjective.
F8 feels more "modern" then its predecessors. It might not be as hip as Ubuntu, but for all practical purposes it's on-par. I still like Fedora and while the upgrade path is not as smooth as I would've liked it, for those looking to perform a clean Linux install I wouldn't hesitate to suggest that they look at Fedora.