it is time to get off the carousel of chicanery, and get back to basics.

NV4x's Video Processor - What Happened?
 
When NVIDIA launched NV40, they were very quick to tout a huge hunk of transistors on the chip, which they called the NV40 Video Processor. This "Video Processor" was composed of more than 20 million transistors and NVIDIA was proud to announce that they put more transistors into NV40's Video Processor than they did in the entire original GeForce 256 chip itself. NVIDIA promised quite a bit with the Video Processor. They promised full hardware accelerated MPEG1/2 and WMV9 encoding and decoding at 1080i resolutions. What it meant was that our CPU video encoding tests would be a thing of the past - a slow CPU paired with any graphics card featuring NVIDIA's Video Processor would be able to handle even the most tasking video encoding without a problem. NVIDIA originally told us that they would have a driver which could take advantage of the processor 2 weeks after the launch of the GeForce 6800 Ultra. We even pressured NVIDIA to work on getting support for the Video Processor in the DiVX codec, since it's quite popular with our readers. The launch came and went, as did the two weeks with nothing from NVIDIA.
 
I personally emailed NVIDIA every other week from May until August asking for an update, with no official or unofficial response as to why nothing had happened with the illustrious Video Processor. Finally, when 23 out of the 35 slides of the NVIDIA press presentation about the GeForce 6200 featured the GPU's "Video Processor", I had had enough. It was only then that NVIDIA came clean about the current state of the Video Processor.  
 
The Video Processor (soon to receive a true marketing name) on the NV40 was somewhat broken, although it featured MPEG 2 decode acceleration. Apparently, support for WMV9 decode acceleration was not up to par with what NVIDIA had hoped for. As of the publication of this article, NVIDIA still has not answered our questions of whether or not there is any hardware encoding acceleration as was originally promised with NV40. So, the feature set of the Video Processor on NV40 (the GeForce 6800) was incomplete, only in its support for WMV9 acceleration (arguably the most important feature of it).  
 
NVIDIA quietly fixed the problem in the 6600GT and since the 6200 is based on the 6600, the 6200 also features the "fixed" Video Processor with WMV9 decode acceleration support. After much explaining to NVIDIA that their credibility when it comes to the Video Processor is pretty much shot, they decided to pull the talk about the Video Processor from their launch of the 6200. As a result, you won't see any benchmarks of it here. NVIDIA is currently aiming to have us a functional driver and codec that will enable the Video Processor and take advantage of its capabilities in the next month or so; given that the feature has already been on cards (in one form or another) for 6 months now, we're just going to have to wait and see.
 
There are still some unresolved issues here - mainly clarification of what the Video Processor really can and can't do. NVIDIA is touting excellent deinterlacing and video scaling quality, which are both important to DVD playback as well as TV playback. They are also claiming hardware assisted WMV9 decode, although they have yet to provide us with information on how much of the decoding process is actually handled by the video processor and how much of it is still software (CPU) driven. Finally, we still don't know what this thing does when it comes to encoding, but we're inclined to believe that it's far less than full-fledged GPU based video encoding.
 
We'll keep you updated on this topic as we get more information and we will get more information

This is a straight copy/paste from Nvidia's site page about the 6600.
 
BUT!!! it refers to the Nvidia Gforce 6 Family which should include the 6800 series:
 
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Next-generation PC games are not the only applications demanding more from today’s graphics cards. Consumers are demanding top notch DVD playback, television encoding and decoding, and support for high-definition television formats from their PC. The CPU can’t handle it alone. However, the latest NVIDIA® graphics processing units (GPUs) are set up to carry the intensive video-processing load.  
 
NVIDIA GeForce™ 6 Series GPUs contain a revolutionary programmable video processor that delivers state-of-the-art, high-quality video features. They provide on-chip acceleration for many functions previously relegated to the CPU or a second chip. A GeForce 6 Series GPU essentially serves as two chips in one: a GPU and a video processor.
 
Video processing on the GPU deals with two major uses of video: playback (decoding), and recording analog video and converting it into a defined digital format (encoding). The most common format for encoding or decoding is MPEG-2. Other popular formats, such as Windows Media Video9 (WMV9), are also supported in the GeForce 6 Series GPUs.  
 
Video Decoding
A key element of modern-day video processing, MPEG-2 is the basis for such functions as DVD playback. Through advanced technology functions such as motion compensation and inverse discrete cosine transformation (IDCT), the GeForce 6 Series GPUs handle MPEG-2 decoding very efficiently, offloading the CPU of the heavy lifting involved in video playback. The result is smooth, high-quality video and reduced power usage.
 
Another important factor is that the GeForce 6 Series GPUs are completely programmable and can handle formats such as WMV9 and MPEG-4. The NVIDIA motion compensation engine can provide decompression acceleration for a variety of video formats including WMV9, MPEG-4, H.264, and DiVX. As with motion compensation for MPEG-2, the NVIDIA video engine can perform most of the computation-intensive work, leaving the easiest work to the CPU.  
 
Video Encoding
The GeForce 6 Series GPUs are also capable of hardware video encode acceleration. Traditionally, video encoding is a difficult and time consuming process. The GeForce 6 Series GPUs include a motion estimation engine. Using state-of-the-art technologies, the motion estimation engine delivers higher-quality video at the same or lower bit rate, as well as lower CPU utilization for improved system performance.  
 
Designed for the Future
Video processing on the GeForce 6 Series of GPUs has been designed with future formats in mind. The flexibility of the GPU video processor design easily accommodates new and improved video algorithms as they emerge. In addition, functions including de-interlacing, gamma correction, and noise reduction are programmed into the GPU’s video processor. With all of these features and full video processor programmability, the NVIDIA GeForce 6 Series GPUs create a foundation for current and future video device support and flexible viewing options, and have the ability to host a wide variety of sophisticated video applications to suit every consumers needs.