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Definitely a good price; you can throw in another couple gigs of RAM for pretty darned cheap, throw Leopard retail on it, and you'll have a solid machine. :)
 
The $429 refurbished Mac mini that was on the Apple Store would eat it for breakfast.

Then the G5 would swallow it whole and still have room for 3 PCI-E cards, two full size hard drives, 14GB more ram and then rape the mini's "graphics card" when its done.
 
ditto the intel mac mini. unless you need > 4GB of memory, or RAID disk setup, the newer Mac Minis will be faster. (Core2Duo Minis). Sold my 2.3Ghz G5, slower and stuck on leopard.
 
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