Ensuring our themes are compatible with the latest version of WordPress is of utmost importance to us, so if you're using
WP 3.2.1 then yes, this is supported.
There is not really a minimum requirement specified as such, but you may find it more suitable to start smaller and then look at your hosting requirements depending on the success of your website.. It would be better to upgrade than downgrade a plan. You can read more about general requirements on our
FAQ Page: