I'd think eight adults in a two bedroom would be crowded. Plus, there is the "negotion" issue. I'm imagining that you are talking about renting, since you don't have the information most owners would have (or know how to get) on hand, which creates more political issues.
You'll have one king bed in the Master Bedroom with access to a Jacuzzi tub. As owners, we lay dibs on this space when traveling with guests, but with everyone paying a fair share, who gets this space would be difficult to determine. You have one pullout sofabed in the living room - probably the least desireable spot - which would share the sink/toilet/shower area with the master bedroom - although the tub is a little more connected to the master bath than the living room - its definately the master bath's tub. You'd have a second bedroom with two queens - chances are good that one of the queens would be a pull out bed - a room two couples would need to share - and they would also share a standard hotel bathroom.
If you can figure out a fair way to divide this out without hurt feelings - and don't mind the crowd, a two bedroom could be nice.
If it were me, I'd make each couple make their own arrangements - holding the bag on
DVC accomodations - especially for renters, but even for members - when someone backs out is a pain in the back end and has caused a lot of people hard feelings. If you make a two bedroom reservation for four couples and end up with two couples because two back out - you've spent more than you need to and are going to be stuck.