Moodle Best Practice

I am planning on using Moodle LMS on a shared hosting server (HostMonster).

What is the best practice for uploading Storyline videos?

• PHP Version? (Moodle 2.2 requires PHP version 5.3.2 or later.)

HostMonster gives: PHP 5.2.x, PHP 5.3.x, PHP 5.4.x

https://my.hostmonster.com/cgi/help/386

• Moodle Version? 

The current verison is Moodle 2.4.3+.

http://download.moodle.org/

• SCORM/Tin Can Version?

Which works best with Storyline & Moodle?

My understanding is Tin Can is available for Moodle with a plugin?

• Any problems I should be aware of?