Heh, I already congratulated you, but for extra measure, apparently if you want to go to the UK for university, you can use a pass, merit or distinction at Grade 6, 7 or 8 practical/theory exam and above for some tariff points, whatever they are. I assume it's similar to credit.
But hey! Congratulations again!
(I'd say the major difference between 7 and 8 is the aural. I'm training myself in aural at the moment from Grade 1 and it's a bit sad that I'm failing that but eh. Grade 7 you can fail aural and still pass but Grade 8 there seems to be a higher chance of failing if you fail aural. Why, I don't know. Maybe the pressure.

)