java8 release is not affecting the java.util.Date class, that would be a terrible compatibility issue for the old implementations running over there,
java8 instead is bringing new APIs for time manipulation
so
can we do this in java 8?
Timer timer = new Timer();
timer.schedule(task, time);
yes, as soon as time is a java.util.Date
can we schedule a Timer in java 8 with the new time api features like
LocalDate and LocalTime?
No, not directly, but those classes have methods allowing you to soon or later construct your old date object e.g.
java.util.Date d = new SimpleDateFormat("yyyy-MM-dd").parse(localDate.toString());
as JB Nizet posted here