Premiere Elements is not terribly graphics card intensive. In fact, you can get away with a relatively low-end (125 or 250 meg) graphics card. Virtually any ATI or nVidia card will do. Conflicts with cards are really pretty rare.
Personally, I'd recommend a card capable of pixel shading so that you can take advantage of some advanced graphic effects.
But I wouldn't over-shop this. As I've said, graphics cards are the least likely element to give you problems. (More problematic are 64-bit versions of Windows 7!)
Just get a good, fast processor (ideally a quad core or i7) and a good RAM load.
I agree with Steve. The most important aspect of the video card, for use with PrE is that it has constantly updated drivers. Both ATI/AMD and nVidia do a very good job in this resepect. Unfortunately, embedded Intel graphics chips do not have even decent driver support. Those are better for general computing, where one is only browsing the Web, doing some e-mails, wordprocessing and spreadsheets - not for doing video editing. They can also fall flat, because of the driver support with image editing, with programs, like PS and PSE.
Otherwise, about any current ATI/AMD, or nVidia card will do fine, just so long as the mfgr. is still supporting driver development for that card.
PrE (as of PrE 9) does not use CUDA, like PrPro does. Same for the ATI/AMD OpenCL. Now, that does not mean that future versions will not either, but for now, those are not considerations.