What is the 8pin power connect for?

EPS +12V, for higher-end motherboards.

Sounds like you're talking about the EPS 12v connector that gives the CPU power.

Its an EPS connector for your motherboard. Standard ATX motherboard use a 8-pin plug instead of a 4-pin because they require more power.

It's just a step up from the 4-Pin 12v (Motherboard)

Watch out though, you don't want to plug in the commonly-misrepresented 8-pin PCI-E connector into that CPU power slot... I've heard from people that motherboards set on fire if you try to do this :O

i always thought that 8 pin supports double RAM channel slots.

No, that depends on the memory controller. 8-pin power connections for the motherboard are there to supply more power to the CPU compared to 4-pin connections.

Dont worry I had a Similar Ocz PSU they should slide apart so that way you can use it in the motherboard that only have 4 and i have always been told that the extra four pins was an extra power line that it wasnt necessary. Ie you can use a 4 pin in a 8 pin mobo and it be fine. As long as your power supply is sufficient. Mine was also marked Cpu 0 and Cpu 1