I'm sure you'll be fine with the 8gb one--as Tarana said, the main reason for buying the 32gb one would be if you wanted to put audiobooks on your reader or illustrated books (pdfs or comic books).
Depending on the PW model you have, you either have 2gb or 4gb or storage, so the 8gb Oasis will give you double or quadruple the amount of storage you have.
As a point of reference, I have a Kobo Aura One with 8gb--6.5gb is user accessible. I have about 1500 books on my Aura One and still have 4.5gb free.
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