Depends on what resolution you want to use, but I think you'll find it
_very_ marginal--I still drop the occasional frame at high-res with an
Athlon 1400 and RAID. On hardware that slow I'd go with the Hauppauge
PVR-250 or 350 or if you can find one the old Matrox G200 Marvel, all
of which have dedicated hardware for MPEG-2 compression--I think you'll
be a lot happier with one of those with that processor.

Agreed, you dont want to go for 'minimum specifications', as the AIW cards
dont have true hardware MPEG2 compression, more of a hardware accelerated
compression. Not only that, if you are going to be doing any post
processing, CPU speed is essential. Dont sell yourself short.