8 beeps stands for "Display Memory Read/Write Failure" which means either the VGA is fried or it needs to be reseated (which is already done)
2 beeps stands for "Memory Parity Error in first 64KB block" that can be triggered by wrong BIOS settings for the memory. Usually means that the memory is gone as well (unless you experimented on memory, like mixing the brands or OCing).
My advice is to test the VGA and memory on another machine to determine whether those 2 are faulty or whether it is the motherboard malfunction.
Chaky
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If you can get your hands on some other known good VGA to test the motherboard (i.e. with all parts plugged in) you will be able to determine which one is faulty. I take that the memory is OK.
Chaky
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