If you don't need hardware divx, a PCI card with hardware MPEG2 encoding like the Hauppage PVR-150 at $90 (pcalchemy.com) is a good choice.
The $45 Leadtek card is about the best software encoding card, but even with a fast CPU you're much more likely to have dropped frames and audio out of sync problems with a card that lacks hardware encoding.
My computer is currently inoperable due to its fried mobo. But when I replace it (soon I hope) I intend to get a Leadtek WinFast TV2000 XP Deluxe (not Extreme, there's a difference).
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