I'm working on a friend's old G4 iMac trying to get his only computer running so he can do his college assignments at home. The machine has static on the screen during operation.

I reset NVRAM and tried booting to a Leopard DVD to no avail. I can get to single user mode, but when I try to run X I get an error and am unfortunately unable to make out the key part of the message due to the static.
I have checked for corrosion on the display connection to the motherboard, and it seems to have retained it's integrity.
Suggestions for making this machine functional again?
PS: After letting it boot overnight it went to the desktop, but was extremely slow. After almost 40 minutes of beach ball i had to reset it using the reset button on the board. It seems to boot normally (except the original static seen in the second image) but immediately goes to the state in the first image after clicking more than a couple times or attempting to drag a window.

