Star Traveler, I am sure there are admins monitoring this forum, and they certainly can handle comments that are misplaced. So please, leave it up to them.
So far, I haven't read a single report about a fully satisfactory recovery of an iPad 2 running iOS8. If you can bring forward a few users who will testify that their iPad 2 is running with no problems and at full speed (=like 7.1.1) after the upgrade to iOS8 (or after they went through a recommended troubleshooting process), I will believe that it can be done. You seem to be so sure, there must be at least one single owner of an iPad 2 who you know personally. Until then, I fear that your posts are not very helpful and possibly even misleading.
I have an iPad 3. After a reset to factory defaults, I have installed iOS 8.0 and set it up as a new iPad. Then, I installed just the apps and infomration I really need. Much of it is in a cloud (iCloud, Dropbox, Evernote, Wuala, GoogleDrive...), mirrored on my Mac and backed up (yes, I use TimeMachine, on two separate drives, so far no problems whatsoever and several successful recoveries). I mostly had to reenter some login info. Later, I installed iOS 8.1 directly "over the air".
The good: everything seems to function properly as it should. In particular, I like the interaction between the apps, which has improved a lot. On the downside, there is a noticeable slowdown, for example, launching and switching of apps and browsing the web. Typing text in some webforms can be very annoying (typing in this forum is acceptable but again, there is a noticeable lag).
So, overall I am satisfied because there is stuff I couldn't do before (or not a easily). But I would be extremely thankful if I could recover some of the previous snappines and reactivity, perhaps with the next update. But this may be just whishful thinking. On the other hand, I understand all the users who don't take advantage of the new functionality, and who are just frustrated because their iPad 2 or 3 is much slower now and less reactive (with no way back).