Hi weilies,
Just another user here, so I am just adding encouragement. I have SC running on a similar setup so it can be done for sure. When I go to that URL I see the initialization screen, BUT it is not showing images and is inoperable.
I had a problem with installing on PHP5.4. What I did was create a PHP5.3 static site on my host, then did the whole SC steps on it. Maybe that will help you - it did the trick for me. I never spent the time to figure out what was happening, as it doesn’t seem to make a difference to SC functionality to be on PHP5.3.
Anyway, also look out for the following too - things I had glitches at first:
– using php5.3, make sure you get the ZEND Guard loader that matches the PHP version - the steps below got me the right one 
wget http://downloads.zend.com/guard/5.5.0/ZendGuardLoader-php-5.3-linux-glibc23-i386.tar.gz
tar -zxvf ZendGuardLoader-php-5.3-linux-glibc23-i386.tar.gz
mkdir cgi-bin
cp ZendGuardLoader-php-5.3-linux-glibc23-i386/php-5.3.x/ZendGuardLoader.so cgi-bin/
touch php.ini
nano pnp.ini
zend_extension = /home/YOURACCOUNT/webapps/scide753/cgi-bin/ZendGuardLoader.so
zend_loader.enable = 1
rm ZendGuardLoader-php-5.3-linux-glibc23-i386 -R
rm ZendGuardLoader-php-5.3-linux-glibc23-i386.tar.gz
Oh yeah, check with your host about the 32 verses 64 bit version the OS is on - the above worked for me as the server I am on is 32 Bit.
Not sure is any of that fixes your issue directly or not, but worth a try.
making and running a test.php file in your root folder of your SC install might also help you see the issues:
<?php
// Show all information, defaults to INFO_ALL
phpinfo();
?>
Support can help you as well - or maybe someone tomorrow (Monday) will see your forum post and know specifically what is going on. Again, stick with it and you will get it working
Peace,
Jamie
