In the Bridgeport user world there is a significant school of thought claiming the locking pin to be, in practice, an unnecessary refinement which can be done without if sheared or too damaged to work as designed. Some of the folk who advocate this have skills and knowledge of the very highest order so its certainly a viable viewpoint albeit one with which I personally disagree feeling that if it wasn't needed Bridgeport wouldn't have designed it in.
To my mind the more important question is what casued the wear. After all the only thing the pin does is to restrain the arbour or collet against rotation whilst being spun up or down the drawbar thread. So far as I can see there is always a bit of oil floating around there and restraint forces against a free running thread will be minimal. As soon as things begin to tighten up the taper engages absorbing most of the twisting forces. So it ought to last pretty much forever.
In the Bridgeport world shearing is much more reported than wear. Presumably due to something highly loaded and inadequately tightened, so the taper cannot supply all the drive force needed, hammering against the pin until it breaks. Flycutters or the larger variety of face-mills being obvious suspects. May be worth checking the mutual fit of your R8 tooling and spindle to ensure you don't have potential problems of that sort.
Clive.