If your system supports it, the FPM or FCGId options are the best, as they run PHP scripts quickly and as the domain owner. Otherwise, unless your system is heavily loaded or security between users is not an issue, the CGI wrapper option is recommended.
The mod_php mode is not recommended, as the small gain in performance should be balanced against the lack of security between virtual servers. Finally, the Disabled mode can be used to turn off PHP scripts entirely.