I cannot comment on how much fast it is because it's been years since I ran benchmarks against it. Even supposing the claims are true, currently it's very limited in what languages it supports. It's great at static content, but dynamic content must be written in C or use a C library. In other words, PHP, Python, and Ruby support are pretty much non-existent (though someone has tried to get PHP FastCGI to work with it).
The author is also fairly arrogant. Earlier versions of the website claimed his code was "perfect" and that he wrote it because no else seemed competent enough to do it right (I'm trying to find the quote).
Regarding PHP: > And without something like G-WAN you can forget about PHP in the years to come because it will not survive the parallelism's requirements.