I just recently bought an Arduimu v3. Rather annoyingly they did not supply an FTDI cable. I'm going for an FTDI cable where the I/O pins are configured to operate at 5v. I assume this is the right but I don't want to fry this board. Is this cable OK?
A 5V cable would be fine, or for about the same price, I would recommend an Adafruit FTDI Friend which is configurable between 5V and 3.3V.
Yes, as long as the board is 5V