International Telemetering Conference Proceedings / October 25-28, 1999 / Riviera Hotel and Convention Center, Las Vegas, Nevada / GSFC in keeping with the tenets of NASA has been aggressively investigating new technologies for spacecraft and ground communications and processing. The application of these technologies, together with standardized telemetry formats, make it possible to build systems that provide high-performance at low cost in a short development cycle. The High Rate Telemetry Acquisition System (HRTAS) Prototype is one such effort that has validated Goddard's push towards faster, better and cheaper. The HRTAS system architecture is based on the Peripheral Component Interconnect (PCI) bus and VLSI Application-Specific Integrated Circuits (ASICs). These ASICs perform frame synchronization, bit-transition density decoding, cyclic redundancy code (CRC) error checking, Reed-Solomon error detection/correction, data unit sorting, packet extraction, annotation and other service processing. This processing in performed at rates of up to and greater than 150 Mbps sustained using a high-end performance workstation running standard UNIX O/S, (DEC 4100 with DEC UNIX or better). ASICs are also used for the digital reception of Intermediate Frequency (IF) telemetry as well as the spacecraft command interface for commands and data simulations. To improve the efficiency of the back-end processing, the level zero processing sorting element is being developed. This will provide a complete hardware solution to extracting and sorting source data units and making these available in separate files on a remote disk system. Research is on going to extend this development to higher levels of the science data processing pipeline. The fact that level 1 and higher processing is instrument dependent; an acceleration approach utilizing ASICs is not feasible. The advent of field programmable gate array (FPGA) based computing, referred to as adaptive or reconfigurable computing, provides a processing performance close to ASIC levels while maintaining much of the programmability of traditional microprocessor based systems. This adaptive computing paradigm has been successfully demonstrated and its cost performance validated, to make it a viable technology for the level one and higher processing element for the HRTAS. Higher levels of processing are defined as the extraction of useful information from source telemetry data. This information has to be made available to the science data user in a very short period of time. This paper will describe this low cost solution for high rate data processing at level one and higher processing levels. The paper will further discuss the cost-benefit of this technology in terms of cost, schedule, reliability and performance.