On the other hand ...
MacOnMac and MacOnLinux are not emulators. In the same way that WINE Is Not an Emulator for running Windows software under Linux on x86 hardware, both of those programs pass all the PowerPC instructions straight to the CPU. So they end up emulating only a very small fraction of the system, and thus run at something like 90% of native speeds.
Whether you can run OS 8 successfully in either of those environments *shrug*. But if you decide to download one and give it a go, please report back here, because I'm sure there are others who would love to know.
Of course, to run MOL you'll need a working Linux OS running, and MOM will require a working OS X. And possibly plenty of RAM.