Go for it!
I would never use a digital mixer or digital eq's or digital compressor/limiters if it was between that and using decent analog gear. Using some type of analog interface after recording tracks on digital is the key for achieving nice warm, ear friendly tones on your tracks. Digital processing just doesn't quite cut it to my ears, even if it is cheaper, "supposedly" is higher quality (of course, the highest quality is what sounds best to your ears...

), and easier to use and automate.
Digital processing DOES degrade the audio! Go to
http://www.digido.com and read up on DSP there for more explaination on this.
If you only need 8 tracks of audio, then you will have a great setup there. If you need more tracks though, you will need another Layla card.
Don't jump on the digital mixer/processing deal just because everyone else is doing it. If it don't sound as good to your ears as analog mixing and processing does, then it don't! I prefer analog mixing and processing myself. If I have to loss a bit of that "digital pureness" to have analog mixing and processing, well then I guess I am willing to have "degraded" sounding audio! But, I don't really think you are lossing anything at all.
You can use your cards 8 outputs to run to 8 tracks on your mixer. Use you outboard processors, then use 2 of your soundcards inputs to record the finale stereo recording back to the hard drive. More or less, that is what you are using ADAT's and a analog mixer to a DAT. I use ADAT's, and people don't seem to mind how my mixes sound. All the "pure" digital sound I am lossing out on doesn't seem to be making people say "Wow, that sounds like he used a analog mixer and he lost a lot of quality in the recording because of that"!
If anything, some of the worst sounding digital recordings I have heard were done with software mixing and low end (minus $10k) digital mixers! I have heard some decent mixes done with
digital DSP, but mostly, DSP to my ears seems to lack a certain something that makes the mix ear friendly. Sort of a stale sound. Analog mixing and processing seems to add a sort of cohesiveness to the sound, and give the mixes more tone and color.
I surely hope to have analog mastering gear someday too! While
the Wavelab with the high dollar plugin route works pretty well, I would still like to have the color and charm that high dollar analog eq's and comp/limiters provide.
Good luck.
Ed