Well, I tried the 430EX and I can say that it didn't seem to fry the M8 at all 😱)
However, it's certainly not the best solution. There are two problems:
1) manual flash settings only. I can only set the flash power to any given fraction of it's total output (e.g. 1/16 for fill flash, or 1/1 for bounce flash). As others have already pointed out, the 430EX does not monitor it's own flash output and automatically cut out once a certain exposure value has been acheived (e.g. -1/3EV).
2) it is ridiculously oversized for the M8.
But the bottom line for me is that it does work to some degree if you have time to chimp and re-shoot, and since I've only ever used flash to shoot a wedding recenption for a friend, I think I'll keep hold of it until I have a satisfactory lens lineup and can spare the money for a smaller flash unit. I do value the ability to bounce falsh indoors though... and I don't see many small units with this ability. Also, the 430EX takes AA bateries, which is very handy.
Which remote trigger do peopple use on the M8? Do you mean a Pocket Wizzard or the Canon IR remote?