AYes. While there are plenty of (valid) complaints about this movie, being American produced, and being full of Hollywood cliches*, Paul McGann's portrayal as the 8th Doctor is far more extensive then just this movie.He has reprised his role as the 8th Doctor many times in the Big Finish Audio Drama's, which are considered canon. The latest one was created in 2011, so the 8th Doctor's stories continue on as they work towards the point where he regenerates into the War Doctor who regenerates into the 9th Doctor, filling in the continuity as a sort of prequel deal. He also appeared in a mini-episode prequel to the 50th anniversary special "The Day of the Doctor" entitled "The Night of the Doctor" which means he now officially reprised his role in the new series cannon.You can find the Audio Dramas (and many many more Doctor Who Audio Dramas featuring many of the other Doctors) here - http://www.bigfinish.com/*NOTE: Phil Collinson (http://www.imdb.com/name/nm0172773/#producer), one of the producers of the "new" series, has been known to say that the American made-for-TV movie, in its departures from then-established canon/tradition (the Kiss between the Doctor and companion Grace Holloway being only one example) opened the door for the new series to explore the more modern themes that contribute to its continued relevance and success. As such the TV movie has its rightful place in the timeline of the show's development, over the long span of its history.
AYes, Sylvester McCoy who plays the 7th Doctor in this movie was the last actor to play the Doctor in the 1963-1989 TV series. In the 2005- onwards series we see Paul McGann's image several times alongside other images of the Doctor's previous incarnations and he is referred to as the 8th Doctor, eventually regenerating into the War Doctor played by John Hurt who regenerates into the 9th Doctor played by Christopher Eccleston. Paul McGann's portrayal is therefore 'canon' and provides a certain link between the classic and new series. That being said many plot point introduced in the movie, such as the Doctor being half human, are ignored in the series.
