Is the ticking sound coming from the cd drive? Usually a ticking sound is an indication of a hard drive about to go out. I would back up your data IMMEDIATELY if I were you.
As for the disk drive, yeah lots of moving parts in those and it might just be dead. It's a common problem. Before you give up on it though, be sure to try the usual things like holding down the mouse button while booting up. That will sometimes eject a stuck disk.
Sometimes it won't come out because part of the insides are out of alignment and it's hitting the edge of the case. If that's the case you can help guide it out with something like a business card. More info here:
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