By "new motherboard" it's worth noting that based on the description on everymac, what the vendor was probably doing was buying used imacs, G4 swapping the CPUs, and then swapping those boards to customers as a source of new motherboards to do the swap on. It's just that on previous generations of G3s, the CPUs came on modules so you could swap just the module or build a new module.
It looks like, to avoid the fact that a G3@600 or @700 would probably be faster than a G4@550 for most things, they didn't bother doing this upgrade to those models.
This is one of those things that might be possible but for myriad reasons, nobody bothered with.
Unfortunately if you want a 2GHz G4 your best option is probably to buy an iMac G4 or eMac G4, a PowerMac G4, or, if you just want to run OSX/PPC software real fast, any Intel Mac that runs up through to 10.6.
@Angelgreat - genuine question here, what Macs have you used up to this point? In particular, are you looking for OS 9 or OS X and what have you used OS 9 on before?
Some of this is going to depend on what overall experience you're looking for but for my part, Mac OS 9 basically feels as fast as it ever will on "literally any G3" with the qualification that my only G3s have ever been systems that started as G3s.
If you want an iMac G3, I think you should get one confident in the fact that Mac OS 9, most desktop productivity and multimedia consumption software, and most period games will work great on it. (People talk about buying like high end G4s for OS 9 gaming but the reality is that games had to be aimed at iMacs because imacs is what most Mac users who wanted to play games had.)
If you want something to do "compute" on, like, serious business statistics or math software, software development, video rendering, etc etc then, yeah, a 2GHz PowerMac G4 probably makes a lot of sense. QEMU on a modern/fast computer might also make sense, especially if you've got a reasonably well developed filesharing workflow, even though QEMU can fall behind in floating point in particular. But, at everyday stuff? QEMU on my i5-2300 gets roughly G3/300 performance at integer.
Related to this is that Mac OS 9 doesn't really
feel any faster on faster Macs. I think I've mentioned this before but on hand right now I have Beiges /266 and /300, an iMac/400, an iBook/366, a QS'02/800, a TiBook/1000, and I'm probably getting a machine. To me, they all feel the same speed. Heck, most of the software I run on all those runs fine on even older machines, although once you start getting into the realm of 604 PCI PowerMacs under 300MHz or so, 7.6.1 and 8.1 are faster than 9.1 is faster on that hardware. (9.1's not
unusable but it requires a lot more patience on a 7200/90 than it does on a 9600/300, for example. Heck, 9.1 even runs on 6100s and 6200s, but, again, you'll spend more time waiting for things to happen there, especially if you don't max out the ram.)
I know I beat the drum of "maybe the vintage Mac you have is good enough" and "no bad Macs" a
little loudly, but it's a genuinely held belief. iMac G3s are
great machines (when they're not falling apart, which, is admittedly a thing they do, because structural plastic) and they run OS 9 really well. The later ones should also be serviceable for basic usage in OS X but if you want an OS X machine having things like dual CPUs, better graphics, 2 gigs of RAM, or, just "an intel CPU" become more meaningful boosts than they are on OS X.
Upgrades are fun, but some of these upgrades aren't really reasonable and/or by the time, say, 2GHz G4s were a thing, Intel Macs were already common so nobody bothered eveloping adaptations for older/cheaper systems. The only reason PowerMac G4s got 1.8-2GHz G4 upgrades new is because they were cheap and easy to build relative to the cost of a new Pro Mac and because there was some
hardcore PPC/Intel trutherism happening at the time, similar to (but arguably more intense than today's Intel/M1 truthing.)