Multiple instances of PostgreSQL on the same server?

[Kreshna]

I need to compile PostgreSQL 8.3.5 on CentOS 4.2. The CentOS already has PostgreSQL 7 installed as part of its default installation. For some reason, I cannot touch the existing PostgreSQL (upgrading, etc) --I really need to use my own compilation of PostgreSQL.

Is it possible to have multiple installations of PostgreSQL (and different version too) on the same server?

At least in theory, I should use a different port for my own PostgreSQL -- that's not a problem. I also need to use different database cluster, and that's not a problem either, since my data directory will be /usr/local/pgsql/data instead of /var/lib/pgsql/data.

But again, is it possible to have two installations of PostgreSQL on the same server? Port and database cluster aside, what else should I consider? Could you share tips and warnings?

[rski]

There should be no problems. Server listening port and database cluster should be different for both servers.