Please take an image of the screen you are seeing, with the white line on it, then post it here.
Sounds like it might be the install screen starting, so just would like to be sure.
One beep means it started correctly, and has posted past the BIOS and handed things over to the CD or hard drive. Are you sure your install DVD works? What ports do you have your hard drives connected to (Color and #), and what BIOS settings do you have set for the following
Integrated Peripherals
X58
Intel Controller (Blue Ports)
eXtreme Hard Drive (Intel ICH10R Chipset) ........................
ICH SATA Control Mode (Intel ICH10R Chipset) .....................
SATA Port0-3 Native Mode (Intel ICH10R South Bridge) .............
Gigabyte/J.Micron Controller (White Ports 8/9)
Onboard SATA/IDE Device (GIGABYTE SATA2 Chip) .............
Onboard SATA/IDE Ctrl Mode (GIGABYTE SATA2 Chip) ...........