If you have a drive larger than 8GB you can do a full install without worry of doing any stripping down. This includes things like additional printer drivers, languages, and Xcode. However, for the majority of the population, you aren't missing anything by removing these.
Also, tools like StripPPC and Xslimmer simply remove the PowerPC portion of the operating system code out, and leave the Intel code left behind. Apple switched to universal binaries which gives the ability to install their code on both PowerPC based Mac's (old ones) and Intel based ones. There is absolutely zero reason to keep around PowerPC code when your processor is Intel based (or vice versa if you had an old Mac). The only exception to this rule is if the software has security checks to verify you haven't tampered with it, generally used for piracy prevention. Xslimmer does a good job of blacklisting programs that might do this, and it won't attempt to strip them out.
Anyways, long story short, I would give it a go on your 8GB drive. You won't have a whole lot of free space after the fact, but you can at least get a feel for whether you enjoy the OS before spending a lot of money on a drive upgrade.