Unlike the trustly old N900 where it was easy to install apps and games. Seems that everything on the N8 has to be unsigned.

Looks easy enough (although there is a 15hr wait) what I do not like is the thought of giving my IMEI number out. Anyone done this? Recommended or not?

There is the alternative of hacking my phone - seems a tad complicated. Or is it simple to do and better than unsigning apps?

The only way to install unsigned apps is to have your phone hacked. This means that you would need to flash it with the hacked files.

Another way to install unsigned apps is by signing them (unsigned app) yourself. This is where the trade off of giving your IMEI and getting a .cert and .key file comes in. So technically, you're not really installing an unsigned app in this second method, but installing a self-signed app instead.

Either way works. Good luck!