In my opinion,

1. It's not a playable hand ever in O/8 (except to check from BB).
2. I would fold the flop. There's only one card (OK, 4 cards) that help you. There are 2 low cards board, so a reasonable probability that even if you hit your K you will get 1/2 at best. Then given the dearth of action you might be playing this heads up, meaning that at best you will get your money back less 1/2 of the rake (assuming board does not pair or no runner runner flush).
3. Not sure that the outs to the set of 8s help you. How do you know the bettor doesn't have Qs? He might have played Q-Q-X-X. So you'd be drawing dead. I assume he doesn't have A-A. Plus, as you said, an 8 makes a low. In sum, get rid of it.