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It's probably OK as long as you don't want to be right up to date. I don't think the next OSX upgrade will work on a G5, the current one won't on my G4-467MHz. But I'm still pretty happy, doing everything I want to do. Even an old OSX is more stable than a brand new Vista box. (I have no experience with W7.) It'll probably need more than the 1 Gb memory it's got on it; just don't buy Apple memory.
OTOH, you can find some nice new boxes at Tiger Direct for $400.
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