This is the last year in which the U.S. Mint used the Memorial design for the reverse of the Lincoln cent. The Memorial reverse was first introduced on Lincoln cents in 1959. In 2009, the Mint for the first time ever introduced a 4 series design within the same year as a way to honor Abraham Lincolns' life.
The 2008-P Lincoln cent appears to be very difficult to obtain in MS67 condition as many coins come with light spotting and scratches. In MS68 condition they are extremely difficult to find and as of 2011, none have been graded higher.