For maximum use I think PHP4 is the sweet spot, it's more than enough to build a relatively simple project as this and it would help to not require people to upgrade to the latest and greatest version of PHP if they happen to have a slightly older installation.
Personally I can't stand it when for a simple module I have to go and make changes to a system that is already working, and I can imagine that people would want to take this and integrate it as a module in their own website.
If there are really urgent reasons why PHP5 would be the only acceptable platform for something like this then I'm open to that but current+previous major release seem to be a good place to be in terms of installed base.
One way you might make your offer more attractive without paying more or compromising quality might be lifting the restriction to PHP 4.