yes, I tried it on SVHS and video input on a widescreen tv. Try it yourself, it depends how critical you are about fuzzy images. Many people put up with terrible quality off their camcorders!
I gave up and did not bother to try it with video in on my laptop. It might work better on a monitor, since monitors are designed for static images, and tvs for moving images, so a tv is not the best thing to use for a keyboard display.
But I would not buy a graphic card especially for this application without seeing the result first, because you might end up thinking it was a waste of money.