1. I think all Radeon cards will work fine with external displays. But, I have to admit, it's just a guesstimate. Based on my experience with the iMac 5K and with attaching a 4K display to a MacBook with Iris 6100, I would say that all GPUs Apple puts in their computers are more than capable of running high-res screens.
There was some lag in Yosemite, mostly with Mission Control. That lag had more to do with pulling data from open apps than with the GPU itself. It was fixed in El Capitan, but it can still occur with lots of apps open - but only the first time you invoke Mission Control.
In fact, I did some tests - whenever the GPU gets stressed, the temperature rises. However, when I use any UI interface, like Mission Control, even for an extended period of time - the temperature remains the same. In fact, the GPU doesn't really get stressed while using anything that isn't specifically graphically intensive. So, unless you intend to game, I don't see a problem with running high-res external displays. But, I guess the safest thing is to wait for reviews.
2. 8K displays would be more demanding than 4 4K displays because you use most apps/games on a single display. And yeah, this is also just a guess, but I think driving an 8K picture on one screen, even with multiple cables, is technically more difficult. But the real reason is most likely the fact that these monitors are still hard to produce and the benefits are questionable.