You sure about them running Jag? Maybe you mean panther or tiger?
Anyway, can you try changing ethernet cables or putting the iMac next to the G5 and using the G5's cable. I had a bad ethernet cables slow things to a crawl. Link speed showed 100 Mbps like it's supposed to but spead was way off. Also had a bad router cause horrible slowdowns but you'd probably see slow speeds for both machines in that case.
They both connected to the same switch/hub?
You can try
broadband optimizer. I saw a post from someone here (maybe Cory) saying it made file transfers faster I think. Don't think it would help in this case though
And do what bigg_MARK said... you can open the console, disconnect your ethernet cable and then connect it again (another way to determine the speed). The console will show the connection speed and duplex that was just used when making the connection.
Edit: look at the system.log in the console app, not the console.log I should have said.