Scan In 16- Or 8-Bit?

I've been scanning slide film on the Nikon Coolscan V ED in 16-bit mode, but this yields a big 130 MB file, which further enlarges during Photoshop CS3 editing. The large file won’t open in Photoshop Bridge. If I scan in 8-bit, will my file quality suffer?

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One of North America’s best-known contemporary outdoor and nature photographers and a leader in the field of digital imaging and photographic education, Lepp is the author of many books and the field editor of Outdoor Photographer magazine. One of Canon’s original Explorers of Light, Lepp finds inspiration in advancing technology that fuels creative innovation and expression of his life-long fascination with the natural world.