I appreciate all the responses.  

The approach I'm taking is that I have a solution (P2s looking for a
home) and I'm looking for the problem.  The goal was to get encoders
and decoders doing all the work, so these systems can be recycled as
PVRs.

Without giving it much thought, I figured high definition would be
feasible since the encoders and decoders are doing all the work
anyway.. but apparently a couple GHz is needed just to move the data
along.

So it was starting to look like a P2-333 could be used as just a
server box that captures standard definition TV.  But Mark Small
killed that idea when his p2-333 couldn't even capture standard
definition realtime TV with it.

Anyway, I'm glad I posted here before trying it.  You folks saved me
from some frustration.  These boards will probably have to be tossed
into the landfill or I'll have to find another job for them.
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