Is the beeping more like a kind of "siren" noise rather than a simple beep? If so, I think that means that the processor settings are out of range, i.e. your motherboard isn't adjusting to pick up the correct settings for the CPU. Interesting that it sounds like the hard disk is still booting though
Perhaps clearing the BIOS would help? There will be instructions in the motherboard manual on how to do this but the simplest way is to unplug the PC from the mains, remove the motherboard battery for a few minutes, then refit it and plug the system back into the mains power. Note that this will reset ALL the motherboard settings back to the factory default settings.
Before you consider this, double-check the manual in case there are any jumper settings that you need to change in order for the new CPU to work.
Are you sure your board will support it without a BIOS update?