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If your server serve large amount of HTTPS or static content, you should consider 4-CPU license, if you server is mainly PHP/MySQL powered, 4-CPU license may not help much.
Usually the bottle neck is the PHP/MySQL. PHP performance wise, LiteSpeed definitely has an edge over lighttpd, but if you PHP code is not very optimized, the visible difference will not be much, The optimized PHP code, the bigger difference you will notice. And LiteSpeed's PHP support is much more reliable.
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