So…. setting up nginx has a few pitfals, one thing that you need to do is that in nginx.conf you have to specify the location of the site on the server for php, otherwise it will think that the $_server['document_root'] is the default location that nginx was compiled with.
I don’t like the fact that I have to setup and run a separate interpreter for php and that there are a lot of small things to keep in mind and check before everything is running fine. Apache runs out of the box, a lot of software comes with .htaccess files that just work. (and I don’t have to restart apache after I make changes to .htaccess)
I ran a test on a small (very small) site and did not see any performance improvements, maybe I should test it on another site.
So, in conclusion: Sounds Good, Maybe Later….