I've made several super-8 films over the years. Here is one zero-budget workflow which mixes the old and the new:
1. Shoot on reversal film.
2. When you get your film back from the lab, PROJECT it onto a wall and videotape it with a DV camcorder.
3. Make an "offline" edit of your movie in the computer so that you know what footage you really need and what footage you don't need.
4. Use a VIEWER and a SPLICER to assemble all of the footage you need onto a single reel.
5. Send that reel to The Transfer Station in CA (http://thetransferstation.com/) for a Rank telecine transfer to MiniDV. This is a very affordable route. If you weedle your footage down to just the stuff you need, all of it mounted onto a single 20 minute reel, you may get the Transfer Station's $100/hr minimum + fees. ~$150 for a Rank transfer is nice.
6. Edit final product again "online" at final quality on computer.
7. Send your masterpiece to festivals and watch the cash prizes roll in ;)
So, with a super-8 camera, a projector, a viewer, a splicer, a DV camcorder, and a computer, you can be a one-person super-8 production studio at very low costs. If you shoot 24fps super-8, you will probably want a 24fps projector also.
Personally, I swear by my Minette S4 viewer and Ciro tape splicer. I researched viewers for a bit, and the Minette S4 and S5 are said to be very easy on film. I can vouch for that! It is a pleasure to use. The Ciro tape splicer is a tiny plastic splicer, and the tape is made such that splices cover two frames exactly, making edit points mostly invisible. If you send your super-8 film off to a lab for telecine, they will probably remove your tape splices and make their own cement splices anyway (at least, this is what The Transfer Station does) so personally I do not think cement splicers are worth the trouble of maintaining. I can still buy new tape for my Ciro and it lasts forever.
Minette S4
http://super8wiki.com/index.php/Minette_Viewer_Editor_S-4
Ciro Splicers and Tape:
http://www.super8stuff.com/super8editingsupplies.html
Good luck.
