Given that SMEv5 "is" redhat 7.1, I'd say it'll install as well as the RedHat did. I've installed it on a Netfinity 3000, an HP Netserver, a Compaq Server and several clones without a hiccup at install time.
The only problem I've had thus far was on our demo laptop, a new PIII IBM Thinkpad. It hung when detecting USB hardware.
I'd say back up your key filesystems and go for it.
-Jerry