So far the only problems I've come across when developing for old mysql installs is
a) No subqueries, obviously
b) No delete with ORDER BY and LIMIT - AHhHHHHh! It doesn't just bomb telling you the query is naff, it just goes ahead and deletes everything it feels like, cackling away to itself.
The was one more thing, but it was really obscure and I can't think of it. If I do a grep for swearing in comments I'll probably find it.
Ahh, UNION was the other, but you can just use CREATE TEMPORARY TABLE foo AS SELECT fields FROM wherever, then follow with an INSERT SELECT.