Newbie Questions: Python & PHP 5.2

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I've downloaded and installed C5 successfully on my machine and am looking forward to developing a site for a local non-profit. After seeing the recommended system requirements and playing around a little bit, I have a couple of questions...

First, it says that PHP 5.2 is recommended for time zone support. What exactly won't work or won't work properly if I'm limited (by my hosting provider) to PHP 5.1?

Secondly, it says that Python is needed for the version comparison functionality. Must Python be installed as an Apache module or what? When I try the page version comparison feature, all I get is a blank dialog and the busy indicator.

Thanks for any insight you can provide,

-Steve

Shotster