There is no denying the popularity and in turn richness of WordPress.
It is the only Wiki/Blog software with professional looking themes and a strong community of exports who can customize WordPress.
Refernces
Determine if this actually increases security - http://www.suphp.org/Home.html. It seems to make the most sense for shared hosting.
This article indicates that suphp is slow as it makes php run as a cgi. Instead it recommends restrictions using mod_php - http://serverfault.com/questions/279938/should-i-use-suphp-or-mod-php-for-shared-hosting
This restricts the php process to specific directories - http://help.godaddy.com/article/1616