It's a hard question. Assuming you use Maven, take 0.75 GB as memory requirement. This is how many agents you can have, but they will slow each other down if you run them on 8 physical cores.
So, from mem perspective (but you should deduct OS/DB/whatever requirements from that), you should be able to run 40ish agents. That's your absolute max.
Now, the question is, how many builds would you actually like to run concurrently? If you run just 8, you will not slow things down for concurrent builds. If your builds are very CPU intensive, I would not go far beyond 8. Assuming sufficient I/O bandwidth, the more I/O your builds require, the more agents you can run (between 8 and 40ish).
Long story short, start with (40+8)/2=24 and monitor the load on that machine. You will most likely need to go lower, but give it a try.
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