trying again....
OK, I'll try not to mess up this time.
Essentially, both PAC 762 and Bad Flynch are correct. Here's my perspective.
My background is in target shooting - smallbore (.22) three position and air rifle in particular. Thus I'm very, very familiar with aperture sights and diopters of many varieties. Regarding this and consistent cheek position and pressure, Bad Flynch is correct in that consistency here is everything. At least it's everything that is for a given combination of lighting, target, and sights. While apertures are forgiving in that a circle can be fuzzy and you can still find the center, the rear aperture MUST allow enough light to pass in order to get an excellent focus on the front sight and at least an acceptable but less precise focus on the target.
Add to this background the fact that I've read lots of Jeff Cooper's writings, tried many of his techniques, and been trained by him on these techniques, I'm very familiar with and rather fond of ghost ring sights. In essence, you can summarize many things by saying that for field shooting, ghost rings are the best iron sights for the vast majority of people in the vast majority of situations. Not all, but darn near it. Smaller aperture sights are surely more precise for specialized target shooting at fixed targets over known ranges with standard positions, but they are not as quick nor as forgiving as are ghost rings for any practical field use.
So I love my Anschutz match diopter sights, adjustable rear apertures with color filters, and acrylic front aperture sights on the target range, but I use ghost rings in the field whenever possible.
Back to the FR8 now. While it's three apertures are very good under static range conditions, the comparatively large amount of steel surrounding them can exacerbate the light transmission issue. They just blot out too much light and field of view around the target. This is where I think PAC 762 is correct in criticizing the FR8 rear sight as it compares to a ghost ring. Again, the limitations of the FR8 rear sight are no biggie on the range, but slower in the field. Due to this, I think that opening up the 200m aperture is a good thing. Not sure about the 300m one, likely not good for the 400m one, all for the reasons first stated.
Add to that the fact that one can utilize the front sight to essentially recalibrate the vertical zero of the rear sight and one has a good deal of flexibility in how the rifle is set up. Granted that if one changes the zero of say the 200m sight to be on at 100m, you've lost the relationship between the others (the 300m aperture now may be on at 250, while the 400m one may be OK at 325 or whatever the ballistic calculator tells you). While the system works just fine as is when set up per design, it clearly does lend itself to a fair deal of customization for the careful, thinking individual.
Note that I've not forgotten about the 100m open sight setting. I just see little use for it, especially if one has "ghostified" the 200m aperture. Yes, in very low light it could be useful, but otherwise it is far outclassed by the apertures.
Thus I see the FR8s are diamonds in the rough. They make very, very handy "tote around the farm iron sighted scout rifles" - especially when set up with a quality Ching Sling, Timney Sporstman or Bold equivalent trigger (so you can retain the original bolt mounted safety) and sitting in a decent polymer stock. Solid, robust, good sights, very hand, very good "hitability" factor, decent flash hider, very reliable - what's not to love? Don't say the straight bolt handle, as I've actually come to prefer them that way. (That's another story not limited to FR8 discussions.)
Now keep this quiet! Otherwise the whole shooting world will realize what gems these little rifle are and there won't be any left for us and those that we want to equip with them.