The 2x/4x/8x Is the data transfer speed. An 8x motherboard can take a 4x card, as long as the voltages match. Here's something I found on another forum.
Motherboard and video cards can support multiple AGP modes. It is totally up to the manufacturer which modes are supported. The specs on the motherboard and video card will tell you things like: Supports AGP 2X/4X/8X (1.5V and 0.8V), or Supports AGP 4X/8X (0.8V only). The trick is not to look at the 4X or 8X, because this wont tell you everything. A motherboard that supports 4X (AGP3.0 standard @ 0.8V, which also supports 8X) is not compatible with a video card that supports 4X (AGP2.0 standard @ 1.5V, which also supports 2X). The AGP3.0 spec defines 4X and 8X. The AGP2.0 spec defines 2X and 4X. So just because your motherboard says 4X/8X and your video card says 2X/4X, definetly doesnt mean they'll work together at 4X. (P.S. - AGP1.0 standard defines 1X and 2X @ 3.3V)
So when shopping keep an eye on the AGPx.0 information of the components, or the voltage (3.3V, 1.5V or 0.8V) supported by the motherboard. Alot of the new 8X motherboards support the 1.5V 2X/4X modes and the 0.8V 4X/8X mode as well, but not all. Often on the spec page of the motherboard they only mention the 2X/4X/8X modes, so try and figure out from those specs which spec they are supporting. This is the same for the video cards.
1X/2X = AGP1.0 Spec = 3.3V
2X/4X = AGP2.0 Spec = 1.5V
4X/8X = AGP3.0 Spec = 0.8V