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The only issue is lack of 'fun'. Most fish aren't going to be able to fight you very hard if you're using an 8 weight, to the point that you can skip them back to you. Guess at the same point it makes you a hell of a lot quicker at catch and release. Definitely not an obstacle persay.. Also harder on the arms for long days, and aren't going to present dries half as delicately or accurately at close range... with that, if you're local, and are only going to go steelheading once or twice a year, you'll probably be pretty sick of your 8 in short order on trout..

Not sure what your budget is but I'd take a look around for some pre owned gear. Might be able to set up both rods for less than you thought. Steelheading is awesome but chances are most of your fishing will be done locally (I'm assuming) and I think you'll find an 8wt to big (although it will work). Personally I would get a rod to serve my purpose where I'd be doing the majority of my fishing and then wait for the right deal(s) to come along to peice together a steelhead set up (or 2). I always bring a back up rod......I've needed it on more than one occasion lol