I have found that, for offshore dives, it is not the wave height that is the biggest factor in how challenging a dive may be but the correlation between wave height and wave period. The closer together the two are, the steeper the face of the wave will be. 8 foot seas with a 20 second period are nothing but a ground swell and in many cases easily diveable, where a 4 foot wave height on a 4 second period will eat you alive. Try to get the most recent information from the buoy closest to your dive site and make the best decision possible by factoring in wave height and period, wind, and diver experience. A bad day on the water can be very ugly indeed and sometimes the best decision that can be made is to simply dive another day.
I find that shorter period waves produce less dramatic surge.
For shore dive I'm generally just looking at wave height to gauge if it's dive-able.
If it's dive-able then periods, winds, tides temps, etc play into how much effort I feel like putting in.
A shorter period would constitute less effort for me.
I generally don't do anything over 3 feet from shore, and I haven't had any real experience on a boat in more than 3-5 seas.