The politics of 8MM are, for better or worse, vaguely right-wing--its general attitude is reminiscent of Schumacher's other good picture, Falling Down--and un-hip, but Welles' politically-incorrect reactions to the shocking stimuli around him are sincere and identifiable.
And its atmosphere suggests other notable dark mysteries like Seven, Hardcore, the superior Silence of the Lambs, and, perhaps, Schumacher's own Falling Down.
Of course, Schumacher has been good before (1990's "Flatliners," 1993's "Falling Down," 1996's "A Time to Kill"), but nothing he has made has quite been this dark, intelligent, and disturbing, as it delves deeply into the world of S&M, porn, and the infamous myth of snuff films.
Borrowing elements from Walker's previous script, "Seven," Schumacher's earlier film, "Falling Down," the brilliant "The Silence of the Lambs" and the subversively creepy aura found in many of Brian De Palma's "Hitchcockian" homages/ripoffs, this film unfolds as a shortchanged character study implying what exposure to such material can do to an otherwise normal person.
This is Schumacher's breakthrough film, his first good one since Falling Down.