Here is what an 8 year old belt looks like in a Honda. Note the cracks, what is more difficult to see is how loose the belt is, it could have jumped a tooth at any time. When that happens, or the belt brakes, the valves will hit the pistons essentially making the engine inoperable without a lot more bucks invested.
http://community.cartalk.com/discussion/2288313/timing-belt-cracks/p1