I have been doing this old school workout for some time I'm curious to know exactly what benefit I am getting by hitting a tire with a sledgehammer and i usually do about 8X3 min rounds
Don't do 8 x 3. Introduce the sledge in short bursts... for example, hit the bag for 8x3, but take the sledge to the tire for the last 30 secs. Put it this way, do you fire power punches for 3 minutes every round? My guess is no, you don't. As a boxer, you need to turn the power on when the opportunity arises... view it as a finisher to every round.