My host is recommending me to 'take advantage of an early upgrade' on my hosting account, the help file read as follows.
Upgrade to Hosting Configuration 2.0
We recommend you to join the ranks of early adopters and upgrade your hosting account to run under our new hosting configuration. This configuration is a major upgrade that adds speed, security, and flexibility to your hosting account. Upgrading provides the following benefits:
NOTE: To review the risks associated with upgrading to the new hosting configuration, click here.
Support for PHP 5
With PHP 5 support, you can program using the latest version of the this server-side scripting language and take advantage of existing applications and add ons written in PHP 5. You can also run both PHP 4 and PHP 5 simultaneously on the same site.
Support for Python 2.3 and 2.4
The latest versions of Python -- 2.3 and 2.4 -- are fully supported.
Support for Ruby and Ruby on Rails
The scripting language Ruby is now supported, along with its application framework, Ruby on Rails. The new hosting configuration allows you to easily leverage both of these technologies.
CGI, Perl, or Python scripts no longer have to be uploaded to and run from the cgi-bin directory. The new hosting configuration allows any file with a .cgi, .py, or .pl extension to be run from any folder within your Web site.
The new hosting configuration has a dedicated administration interface from which you can manage and maintain cgi apps, library versions, and Ruby on Rails.
If I click on the risks it takes me to another page which says the following
Before upgrading to Hosting Configuration 2.0, it is important to realize that your site may experience technical problems after the upgrade. For security reasons, the new hosting configuration disables "exec cmd" for the execution of programs from server-side include-enabled pages. Any code using this method will not function correctly after the upgrade. Depending on your site's configuration, there may be a negative performance impact after upgrading. A roll back of an unsuccessful upgrade requires you to contact technical support for assistance.
Since I know little about this is it going to affect my site? It mostly only consists of phpbb2 and a flash chat script.
host is 'hosting dude' which I believe is part of 'GoDaddy.com'