Is there a way to down load video from a hi8 8mm camera?

Yes, there is. The easiest way is to put the tape into a Digital8 camera and let the camera convert the analog video to digital as you are capturing. Then it's just a matter of capturing the video and saving it on your PC. I don't believe there are any Hi8 cameras with a firewire (1394 connection, Sony calls theirs iLink).

The other option is to use a set of audio/video cables connected to a capture device such as a Dazzle analog video capture device, which captures and digitizes your video via a USB port on your PC. It also comes with editing software.