the A/C has not worked in about 8 years. I am thinking of getting A/C again somehow. My question is what do you guys suggest is the most cost effective way of accomplishing this? fix the r12 a/c or upgrade to 134? any ideas as to what might need to be changed considering it's age and potential wallet damage as well. thanks in advance!

What part of the country are you located ?
What is the condition of the parts... you probably don't know this yet... but determining what the cause of it not working the last 8 years can be important information.....
Has the system been opened up this time... or closed but just won't turn on and cool ?
Has it already been converted to 134a ?
This site has a great search feature... and this subject has been discussed a lot... so you should do some reading before you start asking to many more questions....
Is your 240 a manual or automatic ?