Giants, cyclops, menehune, elves, and such have been invoked frequently to "explain" the achievements of past humans. Now aliens are popular because apparently past humans didn't have brains, manpower, and time.
It is certain that our ancestors have had more than enough time to develop powerful technolonologies several times over, and we have remnants of their technology all over the planet too (the pyramids and other megalithic constructions being only the most visible, since the most sustainable).
Imagine how hard it would be to completely cover up the evidence of human existence on Earth, for example. You'd have to find and excavate every single arrowhead out of the Earth, every single bit of plastic from the ocean. You'd have to figure out something to do about all the mines. You couldn't just fill them up, that would leave evidence. And even that would just be scratching the surface.
Creatures complex enough and with big enough bodies and brains to potentially evolve into something that might build a technological civilization have only been around on Earth for a couple tens of millions of years, which isn't very long in geological terms. We don't see any evidence in the fossil record of ancient big brained creatures developing, and that's pretty much a pre-requisite for a technological species. There aren't any candidate creatures in the fossil record that could have conceivably evolved into a technological species in only a few million years, which means it would take a very big gap in the fossil record to have zero clues about such a thing, if it did happen. Also remember that fossil fuels are part of the fossil record, so we can be pretty confident that they didn't use fossil fuels.
And, as mentioned, if they'd ever developed nuclear technology we would know about it, because the isotopic signatures from either their mining activities, enrichment activities, the operation of their reactors, or the above ground testing or use of nuclear weapons would be like a beacon.
So, absent Slartibartfast levels of world-making or re-making, it's not a plausable theory, even as a stretch.
Overall it would only make sense if they never used fossil fuels, never mined, never developed nuclear technology, never cut down forests, never had farms, never left behind artifacts made out of bone, metal, stone, ceramic, glass, plastic, etc, never modified the landscape in any way. And never had any evolutionary predecessors that left a fossil record. If you can figure out how to squeeze a plausible technological civilization into those constraints, good luck.
You might enjoy his Uplift series; it deals with scenarios not unlike what you mention.
Er, are there?
Giant harmonic resonators that siphon energy off of the earths expansion and contraction caused by orbit of the moon.
http://www.amazon.com/Giza-Power-Plant-Technologies-Ancient/...
His writing is a bit dense, and maybe not as smooth as it could be...but his exploration of the possibility is quite impressive.
https://en.wikipedia.org/wiki/Pseudoscience
and https://en.wikipedia.org/wiki/Scientific_theory (with an emphasis on the "well substantiated" bit)