ACFT BLOWS ALL MAIN GEAR TIRES UPON LNDG AND GOES 200 FT OFF END OF RWY.

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WHILE RECEIVING CLRNC FOR AN ILS RWY 04R THE FIELD BECAME VISUAL TO THE CAPT HE CALLED THE FIELD IN SIGHT AND WE WERE CLRED FOR A VISUAL APCH. THE CAPT INSTRUCTED ME TO PUSH IT OVER AND I SAW THE RWY -- WE WERE HIGH AND I CALLED FOR GEAR AND FLAPS IN THE PROPER SEQUENCE WHILE CAPTURING THE GLIDE PATH THE GPWS WENT OFF SEVERAL TIMES. THE WARNING WENT OFF (SILENCED) AND FOLLOWING THE LNDG SPOILER AND REVERSERS WERE NORMAL. SHORTLY AFTER THE ACFT SETTLED TO THE R AS A LOUD NOISE WAS HEARD; MAX BRAKING AND REVERSE WAS APPLIED AS IT APPEARED THAT THE ACFT WAS NOT DECELERATING. WE WENT OFF THE END OF THE RWY -- ALL 8 TIRES HAD BLOWN OFF. THERE WERE NO INJURIES TO PAX. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: RPTR STATED HE WAS THE PF MAKING A TURN IN TO RWY 4R AT ORD. HE WAS FLYING A DC-8-73. THE ACFT WAS HIGH; SO THE CAPT ENCOURAGED THE RPTR TO BRING 'THE ACFT RIGHT ON DOWN.' AS THEY PASSED THROUGH 2000-1000 FT AGL; THE GPWS STARTED TO SOUND DUE TO THE STEEP DSCNT. THE TOUCHDOWN WAS SMOOTH; BUT BEYOND THE TOUCHDOWN ZONE. HOW MUCH FARTHER DOWN THE RWY THE RPTR WAS NOT CERTAIN. UPON BRAKE APPLICATION; ALL 8 MAIN GEAR TIRES BLEW OUT. THERE WERE 4000 FT OF SKID MARKS AFTER THE TIRES BLEW. THEY CONTINUED SKIDDING UNTIL THEY WENT OFF THE RWY ABOUT 200 FT. GND WAS SOFT SO THE NOSE GEAR SANK AND THE R MAIN GEAR SUNK UP TO THE AXLE. ALL 4 ENGS HAD TO BE CHANGED BECAUSE FULL REVERSAL THRUST WAS APPLIED; RUBBER FROM THE BLOWN TIRES WAS INGESTED INTO EACH ENG CAUSING THE DAMAGE. THE GND SPOILERS DEPLOYED PROMPTLY UPON TOUCHDOWN. THE COCKPIT VOICE RECORDER WAS INOP; SO; NO FLC COMMENTS WERE HEARD DURING THE DECELERATION ROLLOUT. CAPT RECEIVED FROM THE COMPANY; 30 DAY SUSPENSION AND FLY AS FO FOR 1 YR. FO RECEIVED FROM COMPANY 2 WK SUSPENSION. SO RECEIVED FROM COMPANY 10 DAY SUSPENSION.