To answer my own question...
"Note that there is also the cheap ATI TV Wonder VE card which is the cheaper "Value Edition" version of the aforementioned and slightly more expensive ATI TV Wonder PCI card which is also now being called the ATI TV Wonder Pro card. There is a difference between the two. I personally use the slightly more expensive version of the card which is the card I discuss elsewhere on this website -- I don't use the cheaper "VE" version of the card. The slightly more expensive ATI TV Wonder card provides TV in stereo and also has inputs for s-video and RCA composite video input. The cheap ATI TV Wonder VE (the cheap "Value Edition") does NOT have stereo and only allows RCA composite video input. "
And yes, you are right about mono & stereo.
I shoulda looked harder.