running mod_fcgid http://groups.google.com/group/web2py/browse_thread/thread/87cb8b88309eaf1d?pli=1
more on deployment http://web2py.com/book/default/chapter/11 I didn't test theme, but I think best of is to use mod_wsgi or mod_uwsgi ( http://projects.unbit.it/uwsgi/ )
