Topic: Video capture?

I'm thinking about trying one of these boards out, and I'm trying to get a grasp of how powerful the CPU is. I'm looking to capture video from a playstation eye camera, at 60fps at VGA resolution. I get the impression that V4L cameras should be workable, though perhaps requiring an additional kernel module. But will the CPU be able to keep up with this much data, logging it to the uSD card, and perhaps applying some compression? Or would I be better served with by a Beagleboard? That's an option, but is about double the price, and doesn't seem to have as much usable low-level GPIO.