After successfully placing Trac under fastcgi with Lighty, I'm now targeting Moveable Type.
It's not as important as Trac was, I'm pretty happy doing it via CGI, I'm very low traffic. One of the caveats with this approach is that some plugins might not work correctly, due to the persistent nature of fastcgi processes. But, hey, this is the way Yahoo! is doing it, so if that is really a problem, I think they will be corrected shortly.
Anyway, I've collected some links to how-to's about this: