PHP5 has: - OOP features - abstract classes - interfaces - unified constructors and destructors - there is a very nice function __autoload - bug fixes and many more... so you can forget PHP4.
Here's a quick overview of what has changed between PH4 and PHP5. PHP5 for the most part is backwards compatible with PHP4, but there are a couple key changes that might break your PHP4 script in a PHP5 environment. If you aren't already, I stronly suggest you start developing for PHP5.