8800 hours is still a baby. It shouldn't even be away from it's mamma yet...LOL. Seriously, 10,000 hours is about the point the military says to rebuild them, but if you look at diesel construction equipment and diesel farm equipment, it's not uncommon to have machines out there with 20, 30 or even 40,000 or more hours on them. And you have to remember, these machines probably had a lot more of a regular and thurough maintenance program done to them.
I say, put a starter on it and see if she fires. Even if you don't want to run it past 10,000 hours, do you really think you'll put 1200 hours on it in your lifetime. My tractor, which I use every week in the summer for mowing, plus mowing the pastures, and plowing the snow in the winter, hasn't had more than 300 to 350 hours on it in 7 1/2 years. I'll gaurantee that that tractor sees a lot more use than my generators will. It'll take a long long time to put 1200 hours on a generator.