The main features of the Lancer Evolution VIII are :

The Lancer Evolution VIII is powered by an improved version of the 2.0liter in-line 4-cylinder 16-valve DOHC twin scroll intercooled turbocharged 4G63 engine that develops maximum of 280 horsepower and 40.0kg-m of torque.
Optimization of the turbocharger has produced maximum torque of 40.0kg and even gutsier, flatter torque in the 3000rpm to 5000rpm band.
To enable the higher torque, cooling performance has been improved by updating the water pump capacity and by enlarging the water passages in the turbocharger. Engine durability and reliability have also been improved by up rating the aluminum pistons and forged steel con-rods.
The Lancer Evolution VIII adopts a 6 speed close-ratio gearbox to maximally utilize the engine's outstanding power and torque characteristics. The RS comes with a 5 speed manual gearbox and is available with 6 speed gearbox. The 6 speed gearbox employs a pull-ring mechanism to prevent  accidental selection of reverse.

Mitsubishi's All-Wheel Control system, comprising ACD, AYC and Sports ABS, has elevated Evolution's traction and dynamic performance to new levels. Debuting on Evolution VIII, the new Super AYC now brings further and significant improvements to handling performance.
Super AYC uses a planetary gear differential in place of the bevel gear type in the current AYC to double the amount of torque it can transfer between the rear wheels. This enables Super AYC to boost both cornering and traction performance.

The Lancer Evolution VIII uses the same brakes as its predecessor ; 17 inch ventilated discs with 4 piston BREMBO calipers at the front and 16 inches ventilated discs with 2 piston calipers at the rear.
The Lancer Evolution VIII also retains Sports ABS with EBD (Electronic Brake Force Distribution), which uses a steering wheel angle sensor to detect steering inputs. The computer uses this information to regulate braking force at each wheel independently and improve handling behavior under braking.

To improve handling stability and perceived driving quality, Evolution VIII's body has been made stronger and stiffer in a program pinpointing those areas giving the largest gain in strength for the smallest increase in weight.

The Lancer Evolution VIII presents a more aggressive exterior design that incorporates the Mitsubishi design logo in the front grille and sees improvements in aerodynamic and cooling performance. Intercooler efficiency has been boosted with a 10% enlargement of the mid-bumper air intake. The rear spoiler adopts carbon fiber-reinforced plastic in its composition.

The Lancer Evolution VIII uses an off-black color scheme and the strategic placement of dark titanium-finish panels. Recaro bucket seats use slim-line bolsters and a lustrous blue knit fabric with a distinctive dimple-finish.
Complementing the stiffer body, detailed revision of Evolution VIII's MacPherson strut front and multi-link rear suspension results in better at-limit handling stability and perceived driving quality on all conditions.

2004.02 : Lancer Evolution VIII MR.
The Lancer Evolution VIII MR is the first production model in Japan to use a lightweight aluminum roof panel. Other distinguishing features include exclusive BILSTEIN shock absorbers developed jointly with BILSTEIN, and BBS lightweight forged alloy wheels (optional).
The turbocharger waste gate uses two solenoids. This optimizes boost pressure control to give more stable torque in the low to mid range, and the engine achieved torque of 4.08kg-m at 3500rpm.
The ACD + super AYC + sports ABS electronic all-wheel drive control system has been improved to realize a more natural and better driving feel. The weight of the Super AYC unit has been reduced by 800 grams by switching from steel to aluminum for the clutch case and by reviewing the metal clutch disc gauge.