>>>>

I guess that depends on your opinion of "reasonable".

I have a number of 8mm home videos my father made but every place I looked
at was prohibitively expensive (several hundred dollars per reel!!)

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Or on location, perhaps (I'm in the UK)
A few years ago I had mine and my fathers 8mm films transcribed and I don't 
think it cost more than £50 for about a dozen reels. (I certainly wouldn't have 
paid £100 a reel)

At that price the DIY solution seems the only reasonable one.
But beware of framing problems.

Andy

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