been an indicator that the HD on your iBook failed during the data transfer.

Find the OS X installation disk, or the disks that came with the iBook, and boot from it.
Once booted, start the installation process and as soon as the menu bar appears, open the Utilities.
From there, run Disk First Aid.

If you cannot see any hard drive, then it is a sure sign that it has failed.

Disk Warrior has been known to resurrect drives in this state but the drive has to be spinning for it to work. Stick your ear on the case and see if you can hear the drive spinning.

Replacement Hard Drive could be in your future.