Wes Ray has posted a step-by-step guide to help you get your Fedora server up and running with PHP, MySQL and the Nginx web server. He also sets up Apache as a reverse proxy for the web requests.
Ok so I'm going to make this article quick, simple and to the point. Fuck the bullshit, lets get ya'll setup with nginx with a reverse proxy to apache in less than an hour. Now this article is made for VPS type system such as linode or slicehost. We're starting at the point in which you have Fedora 13 actually installed, base system.
He goes through the steps to install all of the needed packages - nginx, PHP, MySQL - and then how to configure nginx to serve up your websites. He notes that the important part is the location of the container to get PHP working. Setting up Apache is a simple one-line change to the httpd.conf and he even includes the installation of APC, mlocate and fail2ban.