That would be reasonable, but I always thought the 68008 was just an ordinary 68000 with only 8data lines exposed, thus is would also suffer the every other cycle memory access penalty.
It's not just a 68000 with 8 data lines, it has a0 as well.
My point about the speed was that on the 68000 it would read a word at cycle 0, cycle 2, cycle 4 etc. While the 68008 may read a byte on cycle 0, cycle 1, cycle 2, cycle 3 etc. So as long as you don't require access to the bus then it's the same.
If you did need to dma from memory as well as fetching then you could use 16 bit ram and buffer words and allow the second byte to be read from the buffer. However you're getting into being easier to just use a 68000. These days you could probably just use vram or double speed ram as well.
A 68SEC000 is probably the best bet & it can be clocked really fast, but the bus can also be configured as 8 bit or 16 bit. MOVE SR is privileged though, which makes it more like a 68010.