Low latency, low CPU codec?

[jeffspam]

I'm trying to setup an infrared USB webcam as a baby monitor using an old Sony VAIO laptop I've got collecting dust as the encoder. It's only a 300MHz Pentium (1!), but its low power, slim size, and PCMCIA slot (802.11g!) make me like it for this app.

My goal is to be able to connect to this thing via either a desktop PC (videolan, or whatever) or my PocketPC (TCPMP, videolan, whatever). Low latency is somewhat critical. I don't want to hear the baby screaming 20s after it's really going on. I remember running videoconferencing apps (netmeeting?) on similarly equipped laptops of the day, so I know that *something* is possible. But I don't know of any videoconferencing apps which work on my PocketPC, so that rules out Netmeeting (right?).

I'm well aware that there's a tradeoff here, and video quality WILL suffer. But I'd like to know what is possible before I craigslist the laptop and get a dedicated, net-aware webcam for this.

Lastly, if CPU time wasn't as limited (thinking about EPIA MB), what other low-latency codecs are out there which would suit this application?

Thanks!

[Phanton_13]

Low-latency is not a real problem, you only need to use a I frame interval of less than 1 second on most of actual codecs and you have a low-latency video stream. For that CPU, I think that you can compress de video using MPEG1 with I & P Franes in a VCD resolution, 1000-1500kbps at 15FPS in realtime whithout problem and 30fps if possible whit a possible litle quality loss if you tweak the sistem. For de EPIA mobo, you can obtine a VGA 30fps MPEG4 encoding using I & P frames if you use a low quality setings ( no qpel, no GMC, no VHQ in Xvid, low motion search prediction... ) in the other hand in the reality the quality can be quite good if you configure correctly the sistem.

PD: Sorry for my bad english.