Have you done any work on the CPU? When I swapped out my CPU with an upgrade, I didn't seat it properly and the system wouldn't boot.
You could also strip the machine down to the bare bones (1 HDD, 1 graphics card, no externally connected devices except keyboard, mouse and monitor). Take out all the RAM and try booting. Without RAM, the machine will make a long beep sound if it can't find RAM to bootstrap the system.
I also had to replace the PSU in my G4 about a year ago. The fan finally gave out on it. Yours might be producing the sound from the fan, but I'm not an expert on this piece of hardware.