syntax errors with ENGINE=MYISAM... and NOT NULL default CURRENT_TIMESTAMP ...

[Jacob, Raymond A Jr]

running: mysql Ver 12.22 Distrib 4.0.23, for Win95/Win98(i32) downloaded from
www.devside.net/web/servers/free/download.

When I run a script with the following commands I get sql syntax errors:

Create table 'test' ( 'helper' varchar(22) )
  ENGINE=MYISAM DEFAULT CHARSET=latin1;

I get a sql error telling me to check the syntax for this version.

I modified the line to 
  ENGINE=MYISAM CHARSET=latin1;


no sql errors.

Next snytax error I get is:
Create table 'testime' ( 'teatime' timestamp NOT NULL default CURRENT_TIMESTAMP 
on update CURRENT_TIMESTAMP,
   'val' char(22) NOT Null);

I modified the line to
Create table 'testime' ( 'teatime' timestamp NOT NULL default 
'CURRENT_TIMESTAMP on update CURRENT_TIMESTAMP',
   'val' char(22) NOT Null);

no sql errors.

Question 1: How do I check my syntax against the version and distribution that 
I am running?

Question 2: I thought on update was a reference definition and required a 
reference to a parent table
and I did think CURRENT_STAMP was a reference action?

Thank you,
Raymond