I’ve not found anything about this in the KB or wiki so I’m guessing it’s not possible, but… can PHP be run as a FastCGI module?
The main reason for wanting to do this is that you can have your own custom php.ini file (no more crappy workarounds for magic_quotes_gpc being on!). See:
http://kics.bc.ca/faq/phpini.html (most useful for Dreamhost admins)
Also I believe performance should be enhanced - we may not notice it but hopefully the server admins would