This package installs the (usually) latest PHP 5.3.x/5.4.x on OS X 10.6 (aka Snow Leopard), OS X 10.7 (aka Lion) and OS X 10.8 (aka Mountain Lion) in /usr/local/php5. It installs many useful extensions (see below) and ini-settings and is what we at Liip and Local.ch use for our development. It's especially suited for Symfony 2 development. It also provides a decent php.ini with all settings configured according to "Best Practices".
It doesn't install Apache, MySQL or any other external programs. It uses the Apache installation, which comes with OS X and for installing MySQL you can for example use Homebrew. The package is based on entropy's php package .