Hello HTML,
I have done both neg. and reversal on K-12 and K-14, the K-12 and some K-14 found in old movie cameras, and some fairly recent K-14 Super8 (now discontinued) which I shot myself - also on some fresh 35mm Kodachrome 64.
Some observations:
The remjet is tricky to remove in the dark from a 25ft length of film - harder from 50ft of Super8. It can be removed after processing, but will gum up the grooves in your tank, and is difficult to clean off the emulsion side, should some get stuck there (through the sprocket holes, etc.) I spent two hours cleaning up (quite successfully) 50ft of Super8 K-14 with Q-tips and Edwal Anti-Stat Film Cleaner - but never again. It is a good idea to test a few inches of film in the light with sodium carbonate (Arm and Hammer washing soda) to practice removing the remjet.
Reversal, as PE said, will give you the best result. The disadvantage is what you see is what you get - unless you do some expensive copying/printing, but the latitude is pretty limited.
Negative processing, as PE also said, gives an orange-yellow cast which may be difficult to print through.
If you want to project the result, reversal will give you a very good image,
if the original exposure and the first development time are correct and of course the film has not degraded too much over time.
You could send the processed negative to a lab and have a positive made (costly), but they may not be able to print well through the orange-yellow colour.
Alternately you could have it transferred to DVD and make adjustments on your computer.
For reversal, I use D-19 plus hypo for the first developer and dichromate bleach. The details are easily found online, or I can PM you the process. Ilford's reversal page is also a good guide. I used permanganate for some years - because I had it on hand and it is used in Kodak's T-max reversal kit. Dichromate has given me more reproducible results and has a long shelf life mixed.
Kodachrome 64 35mm (K-14) makes excellent B&W slides with D-19, although other films are cheaper and also give good results.
I believe you asked about film splitters. I bought one from J&C a couple of years ago in John's odds and ends section, although it is not a stock item. I buy my Foma R2x8 regular 8 movie film from him (best price - good service). I got a second one with a Lomo spiral tank.
If you have a 16mm projector, you can show your film before splitting, since the sprocket holes are spaced the same, only twice as many in 2x8. It will even work in an old double perf. 16mm projector. The result is quite unusual - one side running forward and the other backward. Also, the film gate is larger, but this is not a problem. It will give you an idea of what it will look like.
If you can not locate a film splitter on Ebay (or by asking John for a special order/contact whenever he finishes his move) a few labs will split and splice your film for a small fee. I have had some film (not Kodachrome of course) developed by the Black and White Film Factory (who also do split and splice for $ 5.00) with good result.
http://www.blackandwhitefilmfactory.com/
There are probably others in the US, which would save you postage, etc.
If you decide to go the negative route, I use D-19 straight, although I have never tried to print the result - it was strictly for testing purposes. Getting a 2x8 negative printed is rather dear - I suspect over $50.00. Others may have more info for this service.
At any rate, testing a few feet is essential. Although you will be loosing a bit of the start and end of the film, some of it will be light struck, which also provides information in testing pos/neg and fixing - the few frames you loose - assuming your first shot doesn't give good results - will probably be insignificant for the usual home movie.
Kodachrome is pretty high contrast IIRC (PE may have more info) and so is D-19 (you could try 9min 20C to start). This is not a bad thing for positives, but may not be ideal for negatives. You may want to choose a developer to limit fog (since the film is old). Donald Qualls suggested HC110 dilution G here:
Dead Link Removed
I have not tried it.
If this is a one-off and you don't want to get into reversal chemicals, you may find that projecting the negative image at 16mm gives quite an interesting effect, even with the orange/yellow colour.
Good luck.
Cheers,
Clarence