Difference between PCI, PCIx1, PCIx4, PCIx8 & PCIx16 slots

That is the amount of lanes dedicated to each slot, increasing bandwidth.

x4 has 4 lanes, x8 has 8 lanes and so forth.

Think of it as a road. The more lanes you have, the more cars (in this case data) can pass. if you don't have enough lanes you get a traffic jam, same with data, if you don't have enough lanes the data jams up and slows down.
 

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You want x16 for video cards. For each card if possible.

x8 for Revo Class storage.

The rest are for NIC's Sound and what have you.

The old days of Ribbion cables, PCI slots and so on are dead and gone.

You can always build a bigger road. Driving will be easy for a while. Then gridlock. I have traveled Jersey where they turned 6 lanes of turnpike to something like 24 and 32 lanes of gridlock for 10 miles then 20 miles then close to 30 in a futile effort.

What would be left is to use Moller Skycars and leave the interstate behind. In computers, that means magnetic, wireless or laser/optical data exchange inside the computer case.