67 is for when you want G drive to take over and continue from the point your HDD hits 137GB.
06 is for when you want F drive to keep going on and on beyond 137GB(if your HDD is smaller than 137GB this will be fine).
5003 supports no VGA in your particular case. The 480P in config means whether if you want to see the startup green blob in Progressive mode or not. (VGA softmod on top of 5003 will show VGA , but that's not what you necessarily want here)
So stick with 5001.
The thing about keeping a separate non-VGA BIOS is not just for non-HD displays, any high quality monitor or TV and even some HDTVs that do not like VGA will need this. Just keep it handy, you never know if you will need to use your XBOX on a non-VGA monitor but don't have non-VGA BIOS and have to watch green screen.
md5 is not needed to flash the BIOS using evo-x, just make a "bios" directory in the directory where your evoxdash.xbe(may have been renamed to something else) is and put your BIOS file in the "bios" directory. Don't forget that it has to be 1024KB in size, because yours is 1.0 XBOX.
BIOS works fine without config file, use config file if you want to change from BIOS default settings only, like changing fan speed or LED color or how the blob behaves, and if you do choose to use ind-bios.cfg(name of the config file, right?), put it in c:\(c drive root directory)
I HIGHLY recommend trying out on a glass tube VGA monitor when you have a change. You'll see some differences when you do.