Even with a mainboard that has a small piezo speaker, we're talking about PWM here - the speaker output is usually open collector, and the speaker itself connected between +5V and /SPK. A NOT gate such as the 7404, 1 signal NPN with its emitter grounded, and a base resistor of around 100 ohms to the output of the NOT gate, that should be enough for him to connect regular 8-ohm magnetic speaker between the collector and say +12V of the PSU to get real loud sound. No investments in expensive technology needed.
As far as the 4.77MHz XT goes, the nicest PC speaker "digitized sound" I have heard from a DOS application, was from a French game called
Space Racer. It plays its theme tune that's almost a minute long from two unsigned 8-bit mono samples, MUSIC0.SPL and MUSIC1.SPL (each 42K and 55K in size, respectively), sampled at around 10 kilohertz, by loading them to memory at once, and then playing predefined parts (i.e. not the whole sound file at once). There's some whine present even on the real hardware, but it's far from being ear-piercing, and a regular ole PC/XT is enough. Their executable (SPACE.EXE) is not packed or obfuscated so you could have a look at their timer ISR. You won't get more "Hi-Fi" than this, unless you go via the route of D/A converters, reinventing the sound card in the process.