Since I like the sounds on my keyboard
and the virtual sounds in Garageband I have connected my keyboard via both MIDI and the sound outs. This allows me to record sounds on the software instrument tracks and the Real instrument tracks.
Since you have a G5 and a nice keyboard you may want to invest a little more in a
Firewire Interface. I would look for one with MIDI and audio capabilities.
There are scads of USB interfaces as well.
If you want to go a cheaper route look at my set up:
I get very quiet input and excellent gain control with the mixer and the MIDI works flawlessly, the controller adding some nice features:
Kurt