No, the 8am-5pm everyday thing isn't totally true. During the first few blocks of the year, there will be quite a few 8-5 days per week. The first semester, because you're taking OMM and anatomy lab with lectures are rough.
Second semester is rough for different reasons. There's no more anatomy so you have less of those 8-5 days, but you enter the 3 month hell that I'm in right now, Nervous System & Behavior. But the schedule/workload is generally lighter once you get through the first half of first year. That being said, don't let me terrify you, it's do-able and way worse than it sounds - my classmates and I are still alive, after all.
OMM dress code is basically shorts for guys, and shorts & a tank top for girls. You usually wear scrubs over them and just undress depending on what part of the body you're working on that day. It sounds & feels super embarrassing the first few times, but after awhile you realize that everyone feels the same way and after awhile, everyone is too focused on learning the techniques, etc to care about what you look like in your OMM gear.
What's key? Don't spend all your money on books. Chances are you won't even use more than half of the recommended books - just get a copy of Grant's Dissector, a good anatomy atlas, and the anatomy text at first (we used Gray's Anatomy for Students, I don't know if they'll use it again next year).