Are the 8 divines each of the 8 other planets and that is their bodies like how Lorkhans body is the moons and is oblivion another planet hidden in space?

Oblivion is space. Not a planet.
And yes, the planets are the "bodies" of the Divines.

Oblivion is all of space. But yes, the eight planets are the bodies of the eight divines.

Edit: Ninja'd.

http://www.imperial-library.info/~crodo/teaser/cosmologyfaq.html

Planets are godcorpses that orbit Nirn, which is composed of their bodies as well. Lorkhan's corpse is the moons. Oblivion is the shroud dividing the Mundus and Aetherius. Not so much a "planet".

Oblivion Realms are planets though. You don't walk the surface of them. They appear as spheres from the outside, but are infinite on the inside.

The accepted compromise is that they are Plane(t)s.