Image module 5.1-1.* incompatible with drupal 4.7.*

Hello, I've installed the image module 5.1-1.* (less than a week old). I've checked image, image_attach, image_gallery, image_import in the modules list. Following error occurs:

When trying to add a new image node (Create content/Image) I get:

warning: array_merge_recursive() [function.array-merge-recursive]: Argument #2 is not an array in G:\...\modules\node.module on line 1665.

In the admin section, when selecting Image import, I get:

Fatal error: Call to undefined function drupal_render() in G:\...\modules\image\contrib\image_import\image_import.module on line 159

And when selecting Image galleries, I get:

warning: Missing argument 2 for drupal_get_form() in G:\...\includes\form.inc on line 61.

The last warning I get when selecting any of the image settings (Image, Image attach, Image gallery, Image import) in the admin->settings section as well.

Apart from the error/warning, no content shows up on these nodes. If this is a known issue, please let me know how to resolve it.

Regards,
Scopas