I run 1x8 with a 42t chain ring in front and a 11-34 cassette in the rear. It gives me plenty of range to tackle steep hills, headwinds, etc, etc.
I agree with nashcommguy on the setup. I commute with a Sugino 68x103 BB, Spot Brand chainring, and Sugino crankarms (don't remember which type) and it works great.