I don't know if this is a little late coming in for you, but I am using cgiwrap with my php scripts..
Compile php as a cgi, and put it where users can find it, then have have them copy it to their cgi-bin directory so cgiwrap can exec it.
They then create a .htaccess in their root web directories and put 2 lines in:
Action application/x-sphp /cgi-bin/cgiwrap/sturdee/php.cgi
AddType application/x-sphp .php
Then they can chmod their scripts to 700 or whatever they want, and they can exec them from http://www.yourserver.com/username/theirscript.php and it exec it through the wrapper..
Even though it's a tad late, hope it helped some..
Mike