We analyze a model for CO oxidation on surfaces which incorporates both rapid diffusion of adsorbed CO, and superlattice ordering of adsorbed immobile oxygen on a square lattice of adsorption sites. The superlattice ordering derives from an "eight-site adsorption rule," wherein diatomic oxygen adsorbs dissociatively on diagonally adjacent empty sites, provided that none of the six additional neighboring sites are occupied by oxygen. A "hybrid" formalism is applied to implement the model. Highly mobile adsorbed CO is assumed randomly distributed on sites not occupied by oxygen (which is justified if one neglects CO-CO and CO-O adspecies interactions), and is thus treated within a mean-field framework. In contrast, the distribution of immobile adsorbed oxygen is treated within a lattice-gas framework. Exact master equations are presented for the model, together with some exact relationships for the coverages and reaction rate. A precise description of steady-state bifurcation behavior is provided utilizing both conventional and "constant-coverage ensemble" Monte Carlo simulations. This behavior is compared with predictions of a suitable analytic pair approximation derived from the master equations. The model exhibits the expected bistability, i.e., coexistence of highly reactive and relatively inactive states, which disappears at a cusp bifurcation. In addition, we show that the oxygen superlattice ordering produces a symmetry-breaking transition, and associated coarsening phenomena, not present in conventional Ziff-Gulari-Barshad-type reaction models.