Yes, AOLserver would be better as under Apache you have to run
mod_aolserver anyway (a module that implements the AOLserver API).
Might as well just run AOLserver.
Postgres 7.1.3 is great. However 7.2 is already in beta, so you
might want to just wait and upgrade once it is released (in a week
or two). I'm assuming you already have data in your PG 7.0.3
installation you want to save, even though you've not yet installed
OpenACS, so will have to dump and restore your existing databases.
If you don't really have any meaningful data stored in PG 7.0.3 then
you might as well install PG 7.1.3 and start playing around with
OpenACS. You can then move to PG 7.2 later (it looks like there
will be a PG 7.2beta3 so it will probably be three-four weeks until
it is released in final form).