Hi,
I have an eMac too, so I was also interested in more speed.
In general it is possible to remove the CPU from the logicboard. The only problem is, that it has been fixed.
You need to remove it with some special tools (expensive) and put on a new G4 (not cheap as well).
The much easier way is overclocking.
Try this link:
http://www.lbodnar.dsl.pipex.com/eMac/eMac-upgrade.html
But be careful, playing with your Mac is dangerous and may cause damage to your CPU and/or other components.
The only safe way is to get a new eMac or better try to get a higher clocked iMac. Replacing the board with a new one is not a bad idea, but also a 1.42Ghz eMac is a little bit slow today.
Regards, Bernd