what is good to do with a used old Power Mac G4 that someone is giving away?

Hi all,
I'm a PC user since forever, but someone a few doors down is getting rid of an old Power Mac G4 (from the label on the back). I have never really used a mac besides when I have to, as a linux surrogate for research. I wonder, should I even bother with it even if it's free? What can you do with such a machine? Garageband? video editing? or just web browsing, and that's it? Can it handle the latest OS X (?), which I assume it will need?

Thanks!

and a bit more information that I just discovered in case it helps to identify the vintage:
it has a plain gray cd drive front, and what I think may be a floppy drive (shudder) slot.

Rest assured (shudder) it ain't a floppy drive as no Mac has had them since the 1990's. It is an Iomega Zip Drive, either a 100/250MB.

If it is a 933MHz or 1GHz processor it will handle OS X.5 Leopard, lower than that OS X.4 Tiger. For either make sure you max out the PC133 memory to 1.5GB and PC memory will not work.

That's probably a Zip drive on the front, Macs haven't come with floppys since the introduction of the iMac.
Depending on the amount of ram and the size of the hard drive it should run Tiger just fine. It will be slow though, but will be just fine for web browsing and such.
It could probably run Leopard. Depends on the cpu speed whether it could do it comfortably.

Edit: dang, Harry beat me to it.

You can probably do a lot more with a G4 than just run a web browser, just maybe not with the most up-to-date software. People were doing video editing and such with G3's and even prior PowerPC processors before that. I have a couple G4's that still do video streaming reasonably well.

You can probably find older versions of excellent software for whatever you're thinking of doing with it on eBay or one of the plentiful older Mac retail sites you can find on the web.

And yeah, you would definitely have no trouble running it up to OS 10.4 (Tiger). 10.5 (Leopard) may work alright, too, but would be slow as the other posters said, methinks.