Tonight, I went ahead and reinstalled the Radeon drivers and the TV Wonder 550 PCI drivers. I did not install the media center that came with the ATI card. I was able to see it in Windows Media encoder. I then checked out the webcasting software. I got it to work and there was no blue screen of deal.
I was able to send the video/audio stream to the server and everything was looking good at least on the computer that I was using as my the broadcasting server. I put the URL into the my browser and was able to view the video pretty well. It wasn't crystal clear, that is probable because I'm using analog and a video tape, but the sound was very choppy and sounded like it was really slow.
I am using the on board sound that came with the Gigabyte motherboard. When I get time, I will plan on putting in a SoundBlaster PCI sound card. I don't think there is anyway of putting the sound directly into that card, but I will see.
Otherwise, the stuff worked, not great, but I didn't get a hard crash. So more testing to come. Wish me luck.