It's a double-edged sword... 8 is too little to convert peasants into archers... and too much to mount an Inquisitor on a horse... In my opinion, the limit for converting Inquisitors should be no more than 4, and for converting peasants into archers, it should be 25-30.
And what about the idea of making the conversion rate dependent not on the number of creatures, but on the amount of gold?
Then there would be just enough gold to convert 25-30 peasants or 4 Inquisitors.