I have basic idea about running PHP in different configurations like mod_php, cgi, FastCGI, etc.
In my findings and test I found FastCGI is slightly better. I like FastC
Tried switching to mod_php, many claims about it's speed. Didn't realize mod_php burns through extra memory when serving static files. (I didn't care much about the security issue with the root owning files).
Without a CDN setup, fastcgi is your choice for serving PHP apps. Without it, switching from fcgi to mod_php slowed my page generation time way down, from 3895ms to 6264ms (admin pages on shared hosting).