No...not using cdi at this stage. Originally said I would have to allow for coil saturation time.
Making the coil to produce 300-400 volts seems to be a bit of hit and miss to get it just right for the cdi.
Coil saturation time is gonna kill you on a V8 at high RPM unless you go with
a COP or similar setup. (One coil per cylinder).
A typical modern ignition coil has a saturation time of about 4- 5 ms.
Specialty racing coils (IGN1-A) have a saturation time of as low as 2.5ms.
These coils have the driver / ignitor built in. An example would be a GM LS2 Coil. All these coils need is a 12V Supply and a logic signal to fire given ample "charge" time between "fire" signals from a microprocessor, ECM or whatever.
So do the math and you can see what the coil requirements will be to maintain a constant energy spark over your expected rpm range. With the best of coils ( 2.5ms dwell) you will get 2 full energy sparks every 5 ms.
Also to consider is the timing as to when to start the coil charging at lower RPMs to prevent coil overheating due to being in saturation too long. The microprocessor has to do these calculations quickly and accurately for each coil used. It also has to calculate the firing point ( timing point) based upon engine speed, or whatever other factors you chose to include.
Timing accuracy is another issue. At 1000 rpm 400 microseconds of processor overhead represents less than 1 degree error. However at 5000 RPM it becomes much much more in terms of degrees. Do the math. This has to be compensated for in your program with processor delay error correction built into your dwell & timing algorithms.
A single picaxe cannot be expected to do all of this . In an 8 cylinder inductive ignition you are looking at using at least 2 if not 4 Picaxe's to do the job of 1 C8051xxxx. And you still have to do a lot of correction for processor overhead since it takes a Picaxe 400us to do what a C8051xxx
(intended for Automotive use) 5 microseconds to do.
On my twin cylinder wasted spark system using LS2 Coils, I use 2 Picaxe
processors. One does the Speed detection and dwell calculations , and the other does the timing/firing. It's good to 8,000 RPM.
Using CDI will eliminate the need for dwell calculations and take a lot of the load off the processor(s).