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I'm a big fan of 40k but definitely open to playing Fantasy, especially now that a new edition is in the works. However, I have heard that the WHFB armies are a bit lopsided (apparently Chaos Deamons are super-OP while some armies couldn't win if they tried). Will 8th edition balance the army lists a bit?

Impossible to say. Very little is known about what changes will arrive with 8th edition, though many assume it will bring objective style play similar to 40k.

RZ

No one will know until it's out, or leaked. It's all pretty much going to be guesses, hopes and assumptions for now.