Lol talk about a walk down amnesia lane. I'm now remembering a time I embedded a couple hundred ASCII bell characters in a war script to knock other highschool kids offline. Nothing would clear a chat faster at 2am than computers making a really loud noise that unplugging the speakers wouldn't stop. Ahh nostalgia.
By the time I was on IRC, most people were using PC speakers, which were real speakers at the time. These days, you get a garbage piezo with your case if you're lucky.
Either way, the power led is useless, so better to hook it up to the speaker header ;)