I also have experienced this ringing, although I would call it a whine as in a high pitched whine.
For me, I have found a way to reproduce the sound even without any audio interface attached, Just so we are talking about the same sound, try this...
Find any .aif or .sd2 or mp3 files on your powerbook, click to select it's icon and press command i, (command plus the letter i key) to do a "Get info" on the file. In the info inspector that opens up at the "Preview" area turn the turn-down triangle so it shows the scrubber play bar. Just doing that, showing the preview of an audio file will start the high pitch processor whine.
Check your powerbook and see if it does the whine.
This is so we talking about the same sound.
PowerBook G4 1GHz Mac OS X (10.3.9)