There are two new features in Release 8: Color and X-ray. These options are located in the Basic settings of all objects.
Step 1: Select an object.
Step 2: Go to the Basic settings in the Attributes Manager. In Use Color, change the setting to either Automatic or Always. When the setting is Automatic, the object will appear in the color you've selected until you add a texture. When the setting is Always, the object will remain that color until rendered.
Step 3: In Display Color, change the settings by either clicking on the arrow next to the name or clicking on the color box. You should now be able to see your object in the chosen color.
Step 4: To make your object transparent, activate the X-Ray option located under the Display Color setting.
These two new features are very useful for keeping objects organized and working with bones since bones are displayed in wireframe while inside an object.