Oh, yes a “Dynamic Web Project” is from WTP, not MyEclipse. That means you may have conflicts and problems moving forward if you have both of these installed or may be confused about seemingly duplicate functionality.
IN MyEclipse 5.0 we actually build ontop of WTP 1.5, but we turn off the duplicate functionality so it’s not so confusing. SO if you need WTP installed for some reason, rest assured that in MyEclipse 5.0 release, it will be a very smooth integration step.