Jack, first of all I want to make sure you know the M8/M8.2 is a 1.33x crop camera. Also, because of the very weak IR filter every lens 35mm and under needs a UV/IR filter on. That being said, IQ in my opinion is quite comparable at lower ISOs. The color will depend on filter usage as mentioned above. The M8 is still a very fine camera.
You say a 50 f/1.4, which one? I'm assuming you are talking Leica glass, in that case there are three versions. The latest version, 46mm ASPH lens is probably the best 50 made in any format. It's obviously a different optical formula than the prior models. The formula that came prior to the ASPH is a very classic rendering. Coming from great Nikon & Zeiss glass you will probably not be happy with this rendering. It is a very soft rendering with aberrations galore. Even stopped down, it is nowhere near the detail of the latest ASPH. The oldest formula is a very rare lens, which optically is inferior to the rest.
The Zeiss Planar is a great lens, and a hell of a bargain for $700 or so. It is sharp center wide open with great bokeh. Stopped down it is very sharp. The Zeiss at f/2 though doesn't come close to the 50 Lux ASPH. The Lux is such a beautiful and unique rendering even stopped down. The Zeiss will have a different look.
The M8.2 i would definitely recommend over the M8. The frame lines were adjusted to be a little more accurate and the camera as a whole feels a hell of a lot nicer. They did quiet the shutter a bit, but at the expense of the 1/8000 shutter.