Argh, so much misinformation.
Richard Lindsey is right on the money. Read his post carefully, he speaks the truth.
"Rule of thumb is that you can feed a cab twice the nominal power it's rated at"...
IMHO that's a horrible rule of thumb, and chances are you'll blow a few cabs if you try it. While it is true that bass amps tend to deliver power in "bursts" (when you play the notes), there are many factors that can destroy speakers, including heat, excess excursion (like when you hit a loud low B and the speakers try to jump out of their sockets), impedance mismatch, and physical problems like coil sag/deformation.
The truth about power "rating" is: it depends entirely on what kind of speakers are in the cab. Different manufacturers use different methods to rate their speakers. Bag End's or EV's might be able to take a little extra juice, but I wouldn't try pushing an Eminence past its rating (personally seen more than one Emmy cone fly all the way across the stage



)
"Ive heard rumors of it being really easy to rewire an 8 ohm cab so that itll run at 4 ohms"
No, that's just a rumor, and it's not true. Don't try it, and don't hook up a cab with an unknown configuration to your amp. If the impedance is too low, you can easily kill a solid state amp that way. Tube amps may be "a little" more forgiving in this regard, and a too-high-impedance speaker is generally worse for a tube amp than a too-low (that's opposite from a solid state amp, where too-high just means that it'll deliver less than the rated power).
My rule of thumb is, always use a cab with an impedance that matches what your power amp wants to see. For solid state amps, never use a lower impedance than the "minimum rated impedance", which should be written in big bold letters right on the amp somewhere. For tube amps, try to get an exact match, but never go outside of the range of 50% to 200% of the rated impedance.
When it comes to the power ratings, you have to be "reasonable". For instance I use an SWR 750 with a pair of BagEnd's that are rated at 200 watts RMS each, but I never turn the amp up more than halfway, and I can definitely hear the sound start to change when I exceed the safety zone.
Going the other way, if using a high power cab destroys your amp, then it's a crappy amp to begin with and you should get something different next time. "Good" amps (read: well designed) have protection mechanisms that will either disconnect the load or shut the amp down when it gets into the danger zone. Sometimes the "protection mechanism" is just a little red light that you have to watch, but a better design will actually save the amp "automatically" without requiring human intervention (or constant surveillance).