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"I want to know if something like MySQL/Postgres/SQlite is up to the task?"

You haven't defined the task, other than to say it is a web application.

At least one of those databases is up to the task, if the task is, in fact, an application that requires a database. Some of the largest sites in the world use one, two, or all three of those databases in one way or another. The best designed of them probably use them appropriately, and thus may have a use for both SQLite and one of MySQL or PostgreSQL.

Yes, Digg uses MySQL and other optimizations.

http://www.computerworld.com/action/article.do?command=viewA...

yes, they are.