Mostly, that page is talking about how to use WP-Super-Cache. That works quite well on their systems using fcgi, mostly because super-cache serves static pages, which never have to spawn PHP processes.

On my Dreamhost VPS, I switched to nginx instead, and am using W3 Total Cache to do memory based caching with XCache. This seems to work quite well, although I don't think nginx is quite as stable as Apache on their VPS configuration. This gives me very fast PHP processes, low numbers of SQL queries thanks to object caching, and full page memory caching. It does take a tad more CPU, and a fair amount of memory, but it seems to chug along just fine. nginx is a beast at statically served files, images and such load up quite fast.

Only disadvantage is that page generation is still dynamic and requires CPU, but frankly I prefer it that way. Gives me more flexibility, even if it is a bit slower.