Amusingly, the man entry for beep contains this wonderful little passage.
"By default beep is not installed with the suid bit set, because that would just be zany. On the other hand, if you do make it suid root, all your problems with beep bailing on ioctl calls will magically vanish, which is pleasant, and the only reason not to is that any suid program is a potential security hole. Conveniently, beep is very short, so auditing it is pretty straightforward."
Ah, hindsight.