yeah even an 060 will baulk at playing back VCD (unless half quality etc. etc.). best get a PPC card + gfx card combo.
if not, and you have a lot of hard disk space that you don't know what to do with. you can decode the MPEG stream into an ANIM file, or bunch of frames, and extract the audio into an AIFF, then you should be able to chuck it all into a CDXL file. an EC020 with no fast ram will play a CDXL