The term for when you've consumed that much alcohol you think you can actually see Bob Marley in a hula skirt singing 'Baby it's coldoutside'. The highest state of intoxication.
Jo: I went to a house party last night and necked a bottle of tequila. I was steamboated.
Bob: Good Times.
Jo: Yeah, til I thought my boyfriend was getting off with the wall and i battered it, and broke four fingers.
Bob: Bad times.
The ordinal number '8' is often used in place of the phonemes that would make the sound 'ate' in written English.
I say 'often', I actually mean 'often (by bumpers)'
The habit could have originally developed among linux {fucktard]s in chatrooms, or 14 year old scrubbers text messaging on mobile phones. Either that or from 'old-school' rave act Altern8 (still DJ-ing in and around Stoke-on-Trent, kids!)
Whichever way you look at it, it looks shit and dosn't make you look cool.