Go to vBulletin.com and visit the server optmization forum.
APC cache is nice, so go with it.
PHP 5 with APC is a great optimization and I'd have to recomend it, altho PHP4 is just as fast overall.
Do not run php as CGI/FastCGI esp if you continue running apache.
Not everyone has the ability to dump apache, possibly cpanel in the way, however you can still make use of lighttpd by compiing it binding it to a free ip and moving your static images over to it on a subdomain like images.domain.com.
The plugin based template cache is not actually that much more of a preformance boost in a large real world enviroment.
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