Unable to set php_value in .htaccess file
Solution 1:
If you want to use .htaccess configuration files while using PHP as CGI/FastCGI, you could use htscanner PHP module, which can parse existing and new .htaccess configuration files with various options (including php_value).
UPDATE: Answer is outdated. See below for updated answer:
Since PHP 5.3.0 PHP includes support for configuration INI files on a per-directory basis. These files are processed only by the CGI/FastCGI SAPI. This functionality obsoletes the PECL htscanner extension. If you are using Apache, use .htaccess files for the same effect.