The HowTo Forge website has a new installation tutorial posted today showing how to get the combination of Lighttpd, PHP5, MySQL and Fedora 7 up and running.
Lighttpd is a secure, fast, standards-compliant web server designed for speed-critical environments. This tutorial shows how you can install Lighttpd on a Fedora 7 server with PHP5 support (through FastCGI) and MySQL support.
There's about six steps to the process, including getting all of the packages. Thankfully, there's very little configuration you'll need to do. Since Lighttpd uses the FastCGI component to load in PHP support, there's no need for compiling. It's as easy as grabbing the packages and making them play nicely together. Configuration file changes (examples) are included to almost make it as easy as a cut & paste.