Sorry if that was unclear... you can still use it on any version that allows full text indexing (current production version does), and use the second section for the change. What you will lose is the ability to use the full index on "AND" searches. "Entire Phrase" doesn't work either way, because indexing is done on a word-by-word basis.
So if you're not using 4.01, this speeds up the "Or / any of the words" search option. On my installation, I modified the default search option to "or" in order to get a larger proportion of accelearted searches.
Regards,
Max