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12? That's nasty. It's not about the size, it's about the angle of the tip of the slice. If it's sliced in 12 pieces, the tips are just too thin and will get all saggy. And apart from that they'll get really messy if you don't have pro pizza cutting skills.
8 because i used to work at a pizza place and i would always fuck up when i tried to cut the small pizzas into 6 slices and would have unevenly sized slices, it might have had something to do with the fact that i would get hammered while working but also its pretty hard to do sober
90% of the time I cut it into 8 slices, but sometimes I'll do it in quarters for the hell of it. Of the two pizza places I order from regularly though, one makes square pizzas, and the other makes the pizzas so big that they have to cut it into like 16 pieces, so yeah...