Ok, here's the deal for me.
Asus 3400 TNT/TV, PAL version, 16mb SDRAM, Conexant Bt868 encoder. Win XP.
Every permutation of the NVidia WDM capture drivers messed up my system with the Code 10 thingie. Stock ones, Asus modded ones, etc.
What worked was:
1) Install Asus video card drivers. I have 31.40 now, I don't know if it would work anyway with the NVidia reference ones.
2) Make sure there's no trace of capture drivers installed. Disinstall the NVidia ones, old Asus ones, etc.
3) Here's the trick. I think that the Conexant encoder used in the 3400 isn't supported by the Nvidia drivers and the Asus mods bundled with the sucky apps like Asus VCR etc. So the trick is finding an Asus driver that works with the 3400 under Win2k/XP. The final release of Asus Live doesn't feature any driver but the beta 5, in fact, does. You can see it inside the .zip, it's acap*.* . In fact it's a Win2k driver, but works fine in XP too.
Install it with setup.exe, and it will ask if you want to update the Asus capture driver. OK, reboot. Bingo. Same functionality as Win 98. The zip also features two little exes for installing and uninstalling the driver without Live itself.
It works quite well, you can specify the codec used including the asus ones, DivX, etc.
Problems: only quirk is that the frame rate seems less fluid than what it was on 98. Probably less mature, efficient driver.
Hope it helps, take care

tntd00d
Aside: What are the best programs to watch TV on the PC using the TNT's video in? Apps that can do stuff like having the TV signal as a trasparent background full-screen on the desktop, etc.