If you drain all the old oil out ie: have the filter off, the fill cap off, the drain plug out,
and you let the vehicle sit for 10 minutes (I used to even turn the engine over for half a revolution
to get out the cup that is in the pump; not that anal anymore for some reason).
If you do all that, you will use slighty less than eight quarts,ie: about 7 7/8 quarts;
of course, being 1/8 overfull will not hurt anything.
This has been my experience and assumes a few things;
First, that you use the large filter and second, that you completely empty all the oil from the bottles
that you are pouring into the engine.
If you take it to Walmart, the kid who doesn't know his elbow from his ahole, then all bets are off,
as they usually do not completely drain the old oil, and do not completely empty the new bottles
when pouring them into the engine.
Either way, you will not hurt it; the main reason the LC has all that extra oil capacity for cooling;
ie: oil does more than lubricate the moving the parts, it also draws heat away from those moving parts.
Theoretically, if the engine is in rough shape with blowby, etc; it gives the engine a bit more protection;
ie: more oil to neutralize more by-products of combustion, etc, or if there is a leak or it burns a lot of oil,
you could go farther out in the rainforest before the low oil condition would damage the engine.
However, the main reason for so much oil it to help keep the internal engine parts cooler.
That is one reason why these engines last forever.