ppc386.exe is the compiler executable. To see which version it is do ppc386 -iV or more ppc386 -i.
I am not sure, but I think fp.exe has his own built-in compiler. You know how to retreive that version. I think it would have been better, if we didn't distributed the old version with the current version.
OTOH if you lazarus, you shouldn't need fp.exe.