Remember that the torque is roughly proportional to the current (and the speed is roughly proportional to the voltage).
The PWM will control the average voltage and therefore speed.
The amount of torque you put on the motor will determine how much current is drawn. I have not seen numbers on torque for bandsaws, but I would imagine it is quite a bit smaller than a treadmill, depending on gear ratio. You'll probably only be drawing a fraction of that 8A rating. I would recommend putting a ~5A fuse to protect the motor, in case there is a large torque applied.
Don't forget that there will temporarily higher torque when accelerating.
You could also take a look at power ratings on off-the-shelf bandsaws if you want a ballpark figure.