Luajit2 approaches C on speed [1] - and with the newly released FFI library the C is not really needed that much - so, pretty much all the work has been already done. Just use the results of it :)
And if the server is not high-performing, mongrel2 + $something can be a very good choice. (And has a more liberal license).
But of course, the tastes differ - so the more, the merrier. as soon as the folks do not get pwned.
But yeah, LuaJIT recently added support PPC and soon will add ARM, so point well taken - to do what I'm thinking of, it may not really be necessary to have anything in C.