Don't know how I missed seeing the Device selection, but I did. Now I get the "numbers". What's available is "Microsoft WDM Image Capture (Win32) (VFW)" and "ATI Rage Theater Video Capture (Direct Show)". Selecting either just shows snow in video window, but I do hear audio. Edit: Get video when I change Source to composite. Duh.
Audio-Compression: Don't see a PCM selection - just a "<No Compression (PCM)>" that has no freq selections.
<No compression (PCM)>
ACELP.net
CCITT A-Low
CCITT u-Low
DSP Group True Speech (TM)
GSM 6.10
IAC2
IMA ADPDM
Microsoft ADPDM
Microsoft G.723.1
MPEG Layer-3
Windows Media Audio V1
Windows Media Audio V2
That's as far a I've gotten so far. Guess I'm going to have to actually read up on
VirtualDub instead of trying to do a quick "blindly follow the guide"

Was hoping for cookbook approach since I understand VD is rather complicated and right now I'm just aiming for a basic setup just to see if it's an option worth pursuing.
The AIW, 550 and 650 are all on different boxes. One step at a time...
Another thought: does it matter for avi (HuffyUI) if I use MMC 9.02 or
VirtualDub? If not, can skip VD for AIW, but will still need to figure out how/if it works for the 550/650. For avi, I'm just wanting the raw capture that I can later filter/edit/whatever.
-- merged --
Ok, starting to see source of my confusion. Simply it just looks like the LS guide is not for the 1.9.11 version. A lot of that on the web; hard for we newbies when there's a lot of new terms plus guides & suggestions that are for older versions. I know it's in the plans, but it'll be great when the LS Guide is updated.
In the meantime, I found: Use DirectShow device, not VFW. Setting for audio 48000 is back under Raw Capture Format. Don't see a Save As option. To set the resolution, it's now Video - Set Custom Format; there's a Format, but mine is grayed out. With those, was able to capture.
Also, ffvdub.vbf fails to load, at least on my AIW box.
Onwards...