Since 2003 the USB ports on the back of the Mac have been 2.0, while the keyboard USB ports (that is, the two available USB ports on the keyboard itself, usually used for the mouse) remained 1.0.
1998: First G3 iMac. All USB is 1.0. No FireWire.
1999: 400MHz G3 iMac. All USB is 1.0. FireWire 400. FireWire is your friend.
2003: G4 iMac. Mac USB is 2.0, keyboard USB is 1.0. FireWire 400.
2004: G5 iMac. Mac USB is 2.0, keyboard USB is 1.0. FireWire 400.
Apple didn’t invent USB, but they certainly popularized it. The iMac was a complete break from previous Macs in that it had no floppy drive, no proprietary “Apple Desktop Bus (ADB)” ports for keyboard and mouse, and no serial port for printers. At the time of the first iMac's release very few wintel machines had USB, and (as I recall) USB printers were not immediately available for the Mac then.
My point of all this (finally!) is that G4 (and later) Macs very likely have USB 2.0 on the Mac’s chassis, and 1.0 on the keyboard ports; use the chassis USB.
Or better yet FireWire if your external drive has it.