I don't know about "recommended",
Depending on what you want to do, there's a setup for you. If you want to do this as your main source of income, you've gotta start looking at what other [pro's are using. But if it's just for fun, you have more options. I've seen Avs's done on everything from professional quality projectors to 27 inch television sets. While it's best to have a projector for obvious reasons, they're pretty expensive, so you might want to shop around a bit.
Personally I use my Athlon 850, with a 3d prophet II MX 32 (AGP), and an ATI Mach 64 TV-OUT 8mb, (PCI) as the graphics cards. This gives me two desktops so I can manipulate the avs's live and displaythemm only in a "fullscreen" 640x480 window, so they run even smoother and faster.
One last thing. You're gonna have to get some line input! I made myself a 100 foot long shielded RCA to Stereo jack cord to get it. However, at my first gig, the dj messed up the mixer and I wasn't getting a signal. I had tojury-rig a microphone, which worked pretty well. You can decide which works better for you.