A "new" A8 is possible. The trick is, it has to be realistic.
Personally, I'd settle for capability comparable to what the XL line was supposed to achieve. On that vein, a good starting line for development would be 1400XL/1450XLD/65XEM level machines. To that end, the idea of a replacement board for existing cases makes the most sense. Keep the board small, and it should be able to be hacked into any model of A8 case without too much difficulty.
Forget about "enhancing ANTIC or GTIA". Make the board expandable using the PBI, which is known and established tech. Though some enhancements could be built into the new board, such as SIO2IDE/MyIDE, dual POKEY, 1meg flash for ROM images/Cart. images, PBI FDD controller, USB. All things that have been worked up already. Maybe one extravagance would be to use SIMM memory, ala 30-pin SIMMs or such. For the truely adventurous, an ATX form-factor board with PBI slots, or a PBI backplane that'd fit in an existing ATX case, and would connect to the re-boarded A8.
From that point, if you want hot-rodded video, make a PBI card for it. But get a working foundation that isn't going to break the bank just getting to the point of being capable of making it.
At this point, I'd settle for a 1090XL clone backplane.