As Zak said, most of the time the problem with php5 is running MySQL and allow php to access it.
On a windows server it's quite complicated, as you manually have to move some dll files into the System directory.
Really no idea what the php devs did, but it was quite hard to get it up running again.
All i can say from my own experience it's not a vBulletin problem, as i am running a vb3.03 on my php5 localhost without problems (of course just since i got php beeing able to corespond with mysql again..)
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