Steps to take

Thanks to:
http://realityloop.com/blog/2012/07/03/nginx-mariadb-php-aegir-mac-os-x-optional-drush-5-works-mountain-lion
  and
http://robots.thoughtbot.com/post/27985816073/the-hitchhikers-guide-to-riding-a-mountain-lion

--Fresh install Mountain Lion.
--Install XCode 4.6
--Install Command line utilities via Xcode

--Install Homebrew
$ ruby <(curl -fsSk https://raw.github.com/mxcl/homebrew/go)
$ sudo chown -R `whoami` /usr/local
$ brew update
$ brew doctor

--Mountain Lion Fixes for Homebrew
$ sudo xcode-select -switch /Applications/Xcode.app/Contents/Developer

--Ensure /usr/local/bin occurs before /usr/bin and add /usr/local/sbin is added to your path, If you are using zsh, update .zshrc instead
$ nano ~/.bash_profile   
 or
$ nano ~/.zshrc
Paste the following into editor then Ctrl+X and Y to save
export PATH=~/bin:/usr/local/bin:/usr/local/sbin:/usr/bin:/bin:/usr/sbin:/sbin:/usr/X11/bin:/usr/local/git/bin:/opt/local/bin

--Load .bash_profile
$ source ~/.bash_profile

--If this is not a fresh install remove Apache from startup.
$ sudo launchctl unload -w /System/Library/LaunchDaemons/org.apache.httpd.plist

$ brew install nginx
$ brew doctor (to check if all still fine in paradise!)

--Make nginx log files visible in Console app
$ sudo mkdir /var/log/nginx
Create the following directorty to stop “"/var/lib/nginx/speed" failed (2: No such file or directory)” error
$ sudo mkdir /var/lib/nginx

$ brew tap josegonzalez/homebrew-php
$ brew tap homebrew/dupes
$ brew install php54 --with-mysql --with-fpm