Ah. There was never a compatible head for that. 1" 8-track is supposed to be a very nice format, but 16 tracks are definitely handy if you're planning to track the entire song in analogue.
FWIW the heads have the same track width as on a 2" a 24-track machine, though with narrower gaps between each track so it fits on 1" tape.
You'd probably want to run it with DBX, mind.
At the end of the day, what do you intend to do with the machine? If you want to track a complex song all-analogue, the MS16 is probably a better bet unless you can afford a 2" 16-track machine, or unless you will never need more than about 8 tracks (bouncing notwithstanding).
If you want to use it to fatten up digitally-recorded tracks or something, the 8-track machine would probably sound nicer, but if you're doing that you could probably get the same effect with a 2-track machine.
If you're trying to do a 1970 period thing complete with 1970 restrictions, then yeah, hold out for a 1" 8-track machine.