I hope this will help other people out there. I couldn't get passed the base install of TS2, and I'm pretty sure I figured out why. The game does not like the (x86) in the file launcher address.
What you need to do is a custom install.
After you enter in your installation code and click next, click the ADVANCED USER - SELECT DIRECTORY radio button
Change it from this
C:\Program Files (x86)\EA GAMES\The Sims 2
to this
C:\Program Files\EA GAMES\The Sims 2
then click next. it'll ask you to select a Program Folder, just default to what is already populated in the Program Folders box and click next. if it hasn't already been created, it will ask you if you'd like to create it. For any secondary installs, you'll just default to the name that is already popluated and click next, it won't ask to you create again.
remember if you do a custom install for the base game, you'll have to do it for all your EPs SPs
I was able to get the base game to run on Windows 8 with no changing of the compatability to Windows XP. Of course, when I went to go install University, I got the darn updater error. So I did a little more searching and found these wonderful gems on YouTube
How to install the Sims 2 manually
Part 1: http://www.youtube.com/watch?v=AO5-PQ...
Part 2: http://www.youtube.com/watch?v=b9SHn9...
Part 3: http://www.youtube.com/watch?v=Da6AeSlAl1o
Part 4: http://www.youtube.com/watch?v=m0uBWr...
I'm not sure if the patches are still functionable for Windows 8, but if you'd like to give them a shot, here they all are.
http://modthesims.info/wiki.php?title=Game_Help:TS2_Patches