Wouldn't the Mediator use video overlay to display the TV signal in a window? If so then I don't think you would be able to record it
Dunno about a PCI TV card but the Picasso IV's TV card can record ok, I also think you can record it as an Mpeg if you have a fast enough CPU, AVI is better though as it requires less CPU power... then convert it to Mpeg later if you want.
Also look at the Vlab Motion card which was designed for the job.
(The standard Vlab can also record video as motion jpeg which could be converted)