I've compiled PHP5 just fine on my server and can get it to work. I did the AddHandler and the Action stuff in the .htaccess file and placed it into /home/dkphantasy/www.dark-phantasy.com/ pointing to /cgi-bin/php.cgi.
My only problem is that I have a subdomain that points to /home/dkphantasy/jking/. I have my compiled PHP5 working there, too, but I have to copy over the cgi-bin with php.cgi to that folder too. Is there a way to have both of those pages run off of the same php.cgi, perhaps running it at /home/dkphantasy/cgi-bin/php.cgi instead? I can't seem to figure out or find out a way to tell the .htaccess files to grab it from there.
I made another copy of php.cgi, put it in /home/dkphantasy/cgi-bin/, and chmodded the folder 755. I tried initially to put a .htaccess file with the php-cgi executable info in /home/dkphantasy/, but /www.dark-phantasy.com/ and /jking/ ignored it.
I've transferred my website from another host (we didn't have this much control over our server) and I don't have the domains transferred over yet. /www.dark-phantasy.com/ is located at dkphantasy.dreamhosters.com and /jking/ is located at jking.dreamhosters.com temporarily until I get the sites set up.