I've got an older $50 3COM ethernet card that has a couple good-sized chips on it that say "Parallel Tasking III" or something like that, and I think it was supposed to take all the load off the CPU. All the other 10/100 PCI cards I have are little $10 ones that have really tiny boards. I always figured it was about the same as a WinModem. The cheap ones have to use the driver to do all the work in software, but it's probably not that big a deal.
I have two machines connected over their on-board NVidia GBLAN ports, and when I transfer files at gigabit speeds between them, my combined CPU usage actually does jump around between 8% and 10%. That's on an Athlon X2 at 2.5 GHz. It looks like all the usage is coming from System and explorer.exe ... mostly from explorer.exe being at 6% CPU usage. So I'm not sure what that means.
Anyway, the load can be significant with gigabit ethernet. Not really with 100 mbit ethernet.
For example, most network cards aren't any more complicated than your built-in ethernet and therefore won't offload any work, but look at this card:
http://www.newegg.com/Product/Product.asp?Item=N82E16833106202
It's much more substantial than most cards, and specifically lists features:
TCP Checksum Offload
TCP Segmentation/Large Send Off-load