"value x value" is read as "Horizontal Resoution in pixels by Vertical resolution in pixels... hence 320x200 is 320 horizontal columns by 200 vertical lines.

I started doing simple capture with an analog camcorder, an inexpensive capture card and a Pentium 2-450, so you can do it. You will be limited to relatively small frames (less than 320x200 I expect) but there's no reason why you can't get a usable output from your setup (certainly not broadcast quality but viewable). I'm not sure what the capabilities of the Voodoo 5 are (I have an old Voodoo 3 3500 and it has capture capabilities, though very rudimentary) but you may need to buy a capture card to digitized your analog stream... but they can typically be purchased inexpensively. If you go that route, most capture cards come with basic software that should be all you need. If you find you want to start doing advanced editing then you'll certainly find that your system isn't adequate, but for simple capture, encode and burn to CD you'll be able to get by.