You are probably not a fool
However, you don't say what kind of courses those are in terms of user activities and whether those 8 hours is spread over time or concentrated. What I am leading to is your estimating the average and peek numbers of users on the system and what loads you can expect on the service.
Moodle can handle the load if you have proper server setup. There is lots of info about this in this forum. See for example
http://moodle.org/mod/forum/discuss.php?d=115497
In terms of serving the content, tracking your users progress etc, it is impossible to say without further details. You can simply set up trial Moodle service and try to implement a course or two to see for yourself.