Lately WordPress announced that it will no longer support PHP4 and MySQL 4. WordPress version 3.1 will be the final version that supports PHP4. WordPress version 3.2 and above will require minimum of PHP 5.2 and above. That means user is unable to upgrade their WordPress to version 3.2 if they don’t have PHP 5.2 and above.
If you have no idea on how to check PHP and MySQL versions of your server, you may install and use this plugin call Health Check. This WordPress plugin basically checks and confirm the PHP and MySQL versions of your server if it’s ready for WordPress 3.2 installation. Currently that is all the plugin will do for now. In future this plugin will continue to update and provide other checking that might affect the installation of WordPress 3.2. Consider this plugin as a preparation before installing or upgrading to WordPress 3.2.
I suppose the worst condition that you might have is not able to upgrade your WordPress to 3.2 versions. But still you can continue to keep on blogging without a problem. The most important part is still your content. As long as you can keep on producing good quality unique content then you should be fine.
P/S: This is mostly affecting those who setup server and install WordPress by their own.