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I doubt its ram, mine failed a few days ago and I was getting b.s.o.d and other errors rather than a straight failure to boot and a flashing curser. If you have access to another comp, try making a copy of Hirens boot disk http://www.hiren.info/pages/bootcd and see how you get on.
Faulty RAM often accompanies beeping when failing to boot.It's possible it could be the OS, but it could also be the HDD - which would make more sense. It's probably corrupt.