I tried restoring my original 4.7 version and the errors are still there, it's obviously something to do with how the new server is setup and interacts with PP, but what? vBulletin and the rest of the site are working just fine.
Browse to the URL to see the errors with 4.7 (maybe i better go back to 4.8):
http://www.offshoreonly.com/gallery/index.php