I'd be surprised if Pacman hit Mayweather in the first 8 rounds.
I agree to a certain extent... Mayweather would most certainly NOT get knocked out within 8 rounds, and most likely not at all. The dude can't be hit.
However, Pacquiao would pound away on Mayweather's body and arms. The question really would be, could Manny eventually wear down Floyd. Castillo gave Floyd his toughest test as a pro, largely by wearing him down. Now, that was a long time ago, but if Manny would sustain a wild pace and beat on Floyd's body and arms, he could get to him late in the fight.
The problem for Manny is that he does get hit. Manny is not hard to find and Floyd is perhaps the best counter-pouncher/sharp-shooter in the history of the game. He could take Manny apart in a slow, methodical way and in the later rounds, Manny could be just too beat up to do anything to Floyd.
Man - I hope they are somehow able to put this fight together... I've heard that Floyd is already asking for 65% of the money and of course, Manny would never agree to that. Who knows - maybe Floyd just doesn't want any part of Manny??