Hmm, i would say that the M8 is for someone who really wants to get the best photos with the camera. It's a really powerful camera and comes with a hefty price tag too! So naturally, when it's time to be able to buy such an exquisite tool, you'd be someone who knows enough about cameras and photography :]
Yup, agree with you, and I just found out about the price too. I say, brush up on my skills first! Heh! For now, it remains a dream. :) And yes, you're using a Nikon D40. The D60 or D90s are next on my list, I observed from other sites, they seem to take quite good pics!