Onboard graphics systems have really come a long way, originally only capable of simple 2D application use they are now able to handle basic 3D applications as well as some gaming. Onboard graphics are now basically used for the digital home where simple output for TV as well as High Definition-out is needed.
So far AMD has been the front runner with the 690G chipset, supporting DVI, CRT and HDMI outputs. Now NVIDIA has finally come up with its version, the GeForce 7xxx platform chipset for both AMD and Intel platforms.
The GeForce 7050 is definitely a good chipset for the price, however if you're looking for a slightly more powerful chipset the AMD 690G chipset has better performance, is even cheaper and is built by ATI/AMD for their own chipsets.