Michael,
Before jumping into a valve job, you might want to be certain that it's really a burned valve and not just one that's stuck in the open position as is often the case with an engine that has been sitting unused for so long.
If you did a compression test and it revealed a low figure then it's a burned one, but if it shows no pressure on that cylinder, it's likely stuck open.
Also, although it ain't no fun at all, you should drop the pan and clean out the inevitable layer of coagulated goo in there. It can, and will, cause the demise of an otherwise healthy engine. Waking up a "Splasher" that has been sleeping for a long time requires some patience and care to get it ready for its new life and they are an exceptionally expensive engine to rebuild correctly.
Sounds like you have a real "find" there and I wish you good luck.
Frank

Frank, the oil pan was takin off and cleaned and the bottom end thouroughly inspected before I even attempted to start the car. The carborater, generator, starter, and water pump were all rebuilt. Went through the brake system and fixed any issues, removed the gas tank and.boiled it out and.re sealed it and replaced the head gasket. The car goes down the road beautifully. I did a compression test on a warm engine, and got the following results from front to back; 85, 85, 87, 95, 98, 95, 100, 65. The 65 being on cylinder number 8.

Michael,
Sounds like you're not new at this. I'll bet you were glad you cleaned that pan.
Assuming you are familiar with the process of doing a valve job, there's nothing peculiar about doing a valve job on the eights but I would suggest that you be particularly careful not to allow any crud from the tappet chamber (I'm guessing you'll find some in there) to fall through the drain holes as the oil troughs leading to the mains is directly below and you can imagine how much good it will do to have that stuff accumulate at the inlet hole to a main bearing.
Check the stem/guide clearance. If they're loose, the burned valve episode will return prematurely. That's std. procedure. I install thin-wall bronze guide liners in the old guides instead of buying new, but that's a personal preference. Of course that requires removal/replacement of the guides, which, if they're worn, you do that anyway.
Good luck,
Frank

Do you know if the Hudson 8 had pressed in guides which were much more easily removed, or if they are the type that will have to be drilled out?

I'm fairly sure Michael is going to answer you that they were pressed in, because that's what they were in my 3x5 6 cylinder, of the same era. As I recall, I eventually replaced the original type of guides with some silicone bronze guides that someone in the Club was reproducing, because I thought that perhaps they would prevent the stems from sticking when the car sat for long periods of time. (When I first got my car I had to drive the valves out with a hammer, they were stuck so solidly.) I use Marvel Mystery Oil in my gasoline regularly, just to try to help prevent the valves from sticking.

Michael,
The guides are a press-fit and replaceable. At minimum, you must check stem clearances, as you would in any valve job, but if they are out of spec, they should be replaced before any subsequent operations are done. As I said, I prefer to use thin-wall, bronze guideliners as opposed to replacing the entire guide but it requires some special equipment not usually found in the ordinary tool box. This accomplishes the same thing as the solid silicon-bronze guide at a much lower cost, I'd assume. Although it could be done with the guides in place, I've never attempted it and I believe it would prove to be a bad idea in the end.
It sounds like you need to get your hands on a Mechanical Procedure Manual that covers that engine, as much of this info is covered there. The guides can be pulled from above when the engine is fully assembled (except the head, of course. So far I've always had the luxury of driving them from the underside of a bare block.
If you do get new guides, take note of the difference between the exhaust and intake and be sure that the 25/64" counter-bore is on the correct one (the exhaust). I got a set from a popular Hudson parts supplier and they had been made incorrectly. I had to order another set of intakes and make exhausts out of them, as I recall. Call me picky, but apparently I'm the only one who notices this stuff.
Good luck,
Frank
ps I see in rereading this that I'm assuming that the pre-stepdown 8 uses the same guides as yours. I think that's correct....I'll check.
F