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There will always be v8's out there. Whether they are used as commonly in production cars or not is the question. With direct injection turbo charged engines out there the need for a v8 will be less then ever before, but muscle cars will always be some sort of v8 option cars. I'm sure we will see not only a string of direct injected v8's with better fuel economy as well as some sort of ecoboosted v8. I wouldn't mind a twin turbo v6 in my next mustang, but I'm sure for the cobra or Gt500 reincarnation twin turbo v8 or something in the v8 family will be used. Just like the corvette, challenger, camaro, and a number or trucks and suv's will have some kind of v8 power as atleast an option.
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