Earlier quoted context omitted.
The difference between php-5.2 (the version used), php-5.3, and php-5.4 is quite vast for each version, especially since php-5.4 basically cut memory usage/execution time by a third at worst (or directly by half at best) when compared to php-5.3. This is purely anecdotal but I use PHP for large scripts doing lots of inserts/deletes (>100,000) from databases and relatively simple logic.
Nice, I'll have to give 5.4 a try. Currently using 5.3, and finding it memory hogging when doing a lot of database operations in a row (300k+).
In addition to the above, PHP extensions would be extremely preferable to pure-PHP libraries for database interaction simply because the extensions will be written in C and lack the overhead of the language.