I just finished making an 8 from an extra 4 I had on hand...
If you can lay your hands on an old SoundBorn Octopus bridge
it would make your life a whole lot easier to go to 8.
The problem with trying to make a 5string into an 8 instead of
a 10 is that your strings won't be properly placed over your
pick-ups so you won't get a consistent output from them.
As for your basic concept it's the same basic one I've had
for years. It's not as insane as you would think.
You should be able to file the extra groove into each saddle about
3 or 4mm from above(when looking down on your bass, I don't
know whether you're right or left). The same can needs to be done
to the nut. As for the bridge itself you will have to drill an extra
smaller hole just above each of the main strings.
I wouldn't remove the original bass tuning pegs, fill the holes and redrill
I figured the headstock would be to weak for the strain you'd be putting
on it. I would suggest getting a Fender style headstock keeping all your
main pegs where they are and adding the Guitar pegs on the empty side.
To get the guitar strings under the bass strings I would suggest using
something like those little two string clips that you sometimes see just
above the nut.
This is option I was just about to impliment just before I found my Octopus
so this hasn't been done, but I've spent over 5 years picking guitar techs
brains on the idea and this is the best I came up with combined with the
instructions for the octopus.
Any questions feel free to email me...
toolbox77@hotmail.com