Not really bad news at all. FAT is only usable on volume sizes up to 2GB (Which is what my microSD is). If you have an 8GB card you are already formatted in FAT32 (unless you yourself changed it to NTFS or exFAT).
Since you're already in FAT32, just follow the "unlock via SD" post on the main CDMA Touch Pro area and you'll be good to go.
You'll just put the unlocker on the root of the SD card. It wont erase anything promise