Could this offering serve as the basis of a digital home recording studio? If so, I'd pick one up in a heartbeat, since Apple's music recording software is pretty damn good.
I'd say yes, depending on wheter the DVD drive is available
"Macintosh computer with a PowerPC G3, G4 or G5 processor 600MHz G3 or faster required for GarageBand
G4 or faster required for GarageBand software instruments
733MHz G4 or faster required for iDVD
256MB of physical RAM
Mac OS X v10.2.6 or later (Mac OS X v10.2.8 or later recommended)
QuickTime 6.4 or later (QuickTime 6.5 included)
Display with at least 1024-by-768-pixel resolution
DVD drive required to install GarageBand and iDVD; or 250MB to install iTunes, iPhoto and iMovie only."
My son, an Apple user for his photography business, says you could certainly use this system as a digital recording studio. He knows guys with 1.25 MHz chips in G4 laptops who are doing very intensive stuff with Pro Tools, Peak, Reason, etc. You will need to invest in more RAM to do these tasks with the speed you desire, as the Mac OS does like to chew through tasks in bigger chunks if possible, so more RAM is needed to keep the machine from having to ask the hard drive for more info, which really slows things down. This goes double for doing high resolution Photoshop or video.
One of the things he really likes about the new G5 iMac is the ability to load it up with up to 2 Gigs of RAM. If this bargain Mac will take i Gig of RA< or greater, he says you should be able to run a pretty nice Pro Tools home studio easily.