Don't be mislead by the fact that the latest Nintendos use PPC750 variants. There are alot of different versions of the G3, most of them used for embedded applications (a significant percentage of vehicle engine management systems are run by G3s I believe), the Xbox360 is a PPC machine too (though those are more like G5s I think).
None of these specific system versions are interchangeable with Apple versions since they are designed for very limited types of processing. I expect the GPU(s) do most of the grunt work, and they won't be restricted by anything like an AGP bus. I doubt a G4 could easily get close to the performance of one of the current generations of console.
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