The dirt is so bad here that sometimes it stops my tractor w/ a 5' box blade. For heavy grading I would break up the surface w/ the box blade w/ the scarifiers down & then smooth w/ the wider blade. Worst case I could double up on the cutting edge & bolt a narrower & lower cutting edge. That way the aggressive cutting would be done w/ a 'narrower' blade and the full width would be there to spread the loose stuff that the cutting edge kicks up. I know that this is not an ideal solution, but maybe it would work??? Worst case, if the 8' is too much, I can always trim it down w/ a gas axe! Far easier than trying to stretch a 7' blade....I believe that your tractor will handle the 8' blade in the snow without much problem. As far as grading, you won't be making any deep cuts and be able to handle those cuts very well. If you are only doing light grading, probably no problems. If you have heavy grading to be done, then maybe you would be better off with the 7'. We don't know what your actual needs are. Without being there to know, all any of us can do is give you an educated guess.
You have been given many reply's by experienced people to get the 8 footer. I don't know what else to add other than yes you can get things done with a 7" blade also. A 7" blade at a 35* angle makes a cut about 66" wide. An 8' blade is about 78" in width.
Part of the problem is the width of your tractor and the lighter weight that it is. Typically a tractor of the width that yours is, is several thousand pounds heavier and would handle an 8" blade much easier in all conditions...
I suppose loading the tires would help. How much weight would be added by loading 17.5L-24 tires?
Finally, I did find a better price locally for the blade - $1475.
Thanks to all that replied. Ultimately I know that only I can decide. Problem is that I will only if I choose wisely only after deciding - kind of a catch 22.