Purevideo 2 appears in the GeForce 8500 and 8600, and it primarily has the advantage of taking even more load off the CPU when decoding HD content in H.264 or VC1, the primary codecs used to encode HD discs. Expect to see it on most of Nvidia's forthcoming mid-range and upwards boards.
PowerDVD is available for a little under $100, and has the advantage of being hackable to play discs sans DRM, too. ยต