Change the speed to 250000 just to humor me.. the new printrboards supposedly dont care - but that setting dictates how fast RH tries to spit things out...
Now - Is the printer actually installed on Com Port 3, And.. have you installed the Drivers correctly ? the beeping just means USB - doesn't mean drivers are installed.
Have a look in Device Manager and make sure that the printer is installed with no errors under Serial Ports....
If you just recently purchased your printer (past 6 months) - then you need to make sure you've installed the drivers as well:
http://www.solidoodle.com/installing-drivers/
If you haven't either, would pay to visit the solidoodle wiki and make sure to follow exactly each of the steps they supply on : http://wiki.solidoodle.com/gettingstarted ... Its easy to gloss over a section and miss something, so be sure to follow the steps in entirety... Each step on that list more or less has a seperate article with more info...