Okay, i've re-read this thread about four times and i am still confused. I have a small sub-panel in my basement, apparently installed professionally, as it has an "Inspected-Approved" sticker. It is fed from the main with three 6ga. and one 10ga. thhn/thwn wire in conduit, connected to 60amp fuses(yes, FUSES). I am assuming legal because of the "Inspected-Approved" label. Now if i were to install a two-pole 40amp breaker(yes, breaker) and run 8ga wire to my, say Heathkit Blast-matic 3000 home blast furnace, i would need FOUR 8ga wires, the two hots, the neutral, AND the ground? Seems counter intuitive...
You don't need to run a neutral if the Blaster only needs 240V (or 220V for that matter). But that's not relevant to the sizing.
Rule of thumb:
10/2 or 10/3 NM with a 10 gauge EGC is good on a 30A circuit.
8/2 or 8/3 NM with a 10 gauge EGC is good on a 40A circuit.
6/2 or 6/3 NM with a 10 gauge EGC is good on a 50A circuit.
When you upsize a 10 NM to an 8 or 6 NM on a 30A circuit, the code says you have to upsize the EGC proportionally. Since the 8 NM has a 10 EGC, its not allowed. Somebody posted the math in another thread.
NEC 250.122(B)
(B) Increased in Size. Where ungrounded conductors are
increased in size from the minimum size that has sufficient
ampacity for the intended installation, wire-type equipment
grounding conductors, where installed, shall be increased in
size proportionately, according to the circular mil area of the
ungrounded conductors.
The reasoning behind the rule is that if you upsize the ungrounded (hot) conductors for voltage drop because of a long run, the EGC needs to be upsized as well so it has the same impedance (aka resistance) as the ungrounded conductors.
This seems to keep coming up because people are wiring for equipment needing 30A circuits with 6 or 8 NM just in case they upgrade later.
If you're gonna do that, just run 6/3 to a small subpanel, add a 30A breaker, and run 10/2 to the receptacle.
For your example with the Blaster 3000, assuming it needs a neutral and also assuming its not a continuous load appliance ...
If it was rated 28A at 240V, you'd only need 10/3 NM and a 30A breaker.
But, if you were planning on upgrading some day to the Blaster 5000, rated 47A at 240V, and wanted to run the 6/3 NM cable now but put it on a 30A breaker until you upgraded, its not allowed. You could (a) put 10-10-10-10 THWN in conduit (rated 35A at 75c) and replace it later, (b) put 8-8-8-8 THWN in conduit (rated 50A at 75c), (c) use 6/3 NM and a subpanel.
I think I got all the numbers right. I'll get bashed on something.