This is a B&W PowerMac with a 400MHz G4 upgrade with OS X 10.3 installed. It was working fine last week. Does this graphic mean that it can't find a System Folder, similar to the blinking folder in OS 9? Please help. Thanks!
So far, I've inserted a 10.4 upgrade disc, and restarted while holding down the "C" key. The Apple logo shows up for a split second, then back to the circular graphic that you've posted above.