Well, for one, SAE Grade 8 is not a material but rather a strength rating (they can withstand a maximum tensile stress of 150k psi). The "Grade 8" fasteners you buy at the hardware store are medium carbon steel that has been tempered for strength and hardness then yellow zinc plated for corrosion resistance.
SAE Grade 8 fasteners are STRONG. But they are also sort of brittle. The ultimate strength is much closer to the yield strength than lower grade fasteners. What this means is that a Grade 5 bolt will stretch or bend a little before breaks, giving you a little bit of a warning.
Here's a good reference for determining what load rating of fastener you have or need:
Fastener guide
CRES (Corrosion-Resistant Steel) used for MANY structural fasteners in aerospace and military applications typically has an ultimate tensile strength of 80k psi or more. To put this in perspective: A #10 screw (.190" diameter) of this material will hold 2000 lbs (a Volkswagen) in tension. This is similar to the "Stainless Steel" you're probably considering. The strength of fasteners made from CRES is typically a little less than SAE Grade 5.
These numbers are for tensile loading. The materials can typically withstand about 80% of their ultimate tensile strength when loaded in shear.
Also keep in mind that an overtorqued fastener is worthless- it's already deformed past it's yield point.
The choice really comes down to your requirements. Is the joint you're going to use this bolt on critical to the safety and function of your trailer? How many of these joints have to fail for something bad to happen? How is the fastener loaded (in tension= good, in shear= bad)? Is it in a spot where you can replace it easily? Is it next to other materials that will induce corrosion via a galvanic couple?
If it were me, I'd use SAE Grade 8 fasteners for things like suspension attachment and the CRES screws for things "in the weather" or where Ill see them often. For mounting the cargo box to the frame of your trailer, you'd probably be safe with the CRES fasteners, but if they're not in a corrosion-vulnerable spot, the SAE Grade 5 or 8 would probably be fine too.