Welcome to the forums.
When you arrive at the resort, you will cross the bridge to IOA and just to the left of the ticketing windows is where hotel guests are allowed into the park early (valid ID and fingerprint required). However, if you're staying offsite, then there may be another entrance for you, slightly beyond the ticket office but ultimately only a stone's throw away from the hotel guests are lining up. I am sure someone will clarify this for you.
Once inside Port of Entry, you will want to get to WWoHP very quickly. Take the route through Seuss Landing (the opposite side to the Hulk coaster that you will notice
) and follow through Lost Continent until you see the Hogsmeade sign and the Hogswart Express.
At 8am of thereabouts, I believe everything in WWoHP is open for business. In fact, summer 2010, this area of the park opened at 7am especially for Virgin Holidays customers from the UK who were able to enjoy an exclusive breakfast at The Three Broomsticks as part of their vacation package (whether this is still on offer in 2011 I don't know). So by the time you arrive at WWoHP at 8am, you won't actually be the first people there, although it will still be virtually empty, if you know what I mean.
As far as I am remembering, Ollivander's should be open at some point in the 'extra hour', although I highly doubt the first show is right at 8am on the dot. Again, somebody who has been more recently than me will give you a better indication. My advice to certainly queue for Ollivander's as long as you know what the show entails. A lot of people have suggested that it is not worth the wait, especially without kids, but personally I don't think a trip to WWoHP is complete without seeing it, however basic it is. Please remember though that wands can be purchased without having to queue for the show (although nowadays I hear queues are commonplace to even get into the shops).
At any stage of the day before 10am, Forbidden Journey will be fine to ride. You don't even necessarily have to join the queue in the 'extra hour'. Do Ollivander's and look in the shops (but don't buy anything yet *** you can't take it on Forbidden Journey) while you can still 'swing a cat' as the phrase goes. The shops are tiny, and can comfortably fit only around a dozen people at once. When you learn that 4 times that amount are cramped inside at any one time, plus a 30 minute queue outside each shop commanded by security and cast members, then you get an idea of how important it is to that kind of thing in your early morning foray, rather than leave it until everyone is in the park.
I would say that 11am is around the time that Forbidden Journey starts to get busy, as would be case with any other major attraction in a Florida park. It will stay noticeably busy until after dinnertime, then it will quieten down again (as will the whole of WWoHP). Please be advised that the queue line for Forbidden Journey can hold around 7hrs worth of a queue, although rarely has this ever been fully utilised. But my point is, do the castle tour AND the ride on your first occasion, then on any further rides, just utilise the Single Rider queue, which skips the whole castle queue zone (especially the hot and sticky greenhouse section) and goes straight to the Gryffindor Common Room. You will not have to wait any more than 20 minutes at any stage of the day (onsite guests or offsite guests) if you use the Single Rider Queue. But you may be split up from your partner, if that kind of thing matters to you. Do it together once, get the photo, then just go round and around via Single Rider queue. That's what most people would advise.