Hello,
I have a 256 MB OpenVZ based VPS running on Ubuntu Lucid hosting a low traffic (~1000 pageviews per day) phpBB forum. The software packages I've installed are nginx, php5-cgi, mysql-server, php5-mysql, php5-xcache, and imagemagick. I've optimized MySQL so that it takes 10-15 MB memory at a given time (my my.cnf). It's php-cgi that starts around 8 MB and goes on till 30-40 MB until it is recycled(I have PHP_FCGI_MAX_REQUESTS set to 500). PHP-CGI is started with 1 child process. The total memory usage, at a given time, hovers between 95-110 MB.
My pages load within 0.1 to 0.7 seconds, which is quite high IMO. But sometimes, one odd page takes more than 5 seconds to load. I'm not sure what's the cause of this, though.
Files for reference :