A little background-
I've been riding a 97/98 Bianchi San Remo for several years and have decided to build up a new ride using some of my existing components and some newer pieces on a New Albion Privateer. Yes, I know the Bianchi is way hipper and a lugged frame and yadda yadda but the bottom line is it's really too small and the New Albion is what I can afford that fits. My father has offered to build me a new set of wheels for my upcoming birthday and here's what we went with:

Sun CR18 700c 36h rims
Wheelsmith double butted spokes and brass nipples
Shimano 105 36h hubs

Now here's where I may be in a little trouble-
I got a great price on the hubs (around $75 shipped) but the FH-5800 (11spd) rear is what's coming. The new cassette I ordered is a SRAM PG830 11-32 8spd. I've seen this hub advertised as 11spd and 10/11spd and 7,8,9,10,& 11spd. Will I be able to make that cassette work with this hub or am I about to receive two very pretty paperweights?

I'm using some old Shimano 600-looking downtube shifters and friction shifting. I don't care about indexing. I have a brand new SRAM 8spd chain that works great with my old Campy Mirage 8spd stuff. Any help is appreciated and I can provide more information and pictures if needed.