The current stable releases are PHP 5.2.9 and 5.3.0.
PHP 4.0.0 was released in 2000. I have no idea when the PHP 2.x releases were: the oldest release referred to on the official PHP Releases page is 3.0.18, and there is no change log for it (or anything earlier, obviously) to give any idea as to what might have changed from any PHP 2 releases. (My guess is that you'll find that MySQL was on a more-or-less similar time table with regard to versions.)
All I can suggest is to try running the scripts in your new environment with all error reporting turned on, and see what happens (keeping a fire extinguisher close to hand). :eek: It will either (miraculously) work, will have some errors you can chase down and fix without too much trouble, or fail so miserably that you'll decide to start from scratch, maybe following the old code as a general road map (or just throwing it out completely).