No this procedure is a blind force flash. All you here are the beeps.
http://www.ami.com/support/doc/AMIBI...e_List_PUB.pdf Section 8.1 are the beeps you may get.
The boot block initializes before the cpu and does not need the cpu to initialize before it forces the flash. Hold the ctrl + home keys on the keyboard before you hit the power switch. Attach a case speaker if you don't already have one so you're not completely blind and you may be able to figure out where it's failing.