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I built a mythtv box from a 450Mhz pentium III with a haupage PVR-350 and 512 megs of RAM. I got a cheap nividia Geforce2 card to do video out as well. I found it wasn't quite up to watching television live, but it does quite well as time shifting device.
EDIT: Definitely do NOT get an ATI all-in-wonder. It's support in linux is poor to none, and it's just not worth the hassle.
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