Mod_mono will allow you to integrate Mono and ASP.NET web pages in an existing Apache installation which means that you get all the benefits that Apache has (HTTP 1.1 support, extensive configuration options, extensive documentation and support) and you can mix on a single server many other services. FastCGI is a lightweight protocol implement by both Apache and many other web servers. It has become a universal protocol for web server extensions so it is supported by many web servers, in particular popular servers like Nginx.
Configuring FastCGI is also a bit simpler for people not familiar with Apache configuration. The features are usually determined by the web server that uses FastCGI. XSP is a very limited web server which is used typically during development or for testing.
Although some people use it for production, but this server is not likely going to ever grow to support all the features that Apache or FastCGI servers have. XSP at this point only implements HTTP 1.0 with a ... more.
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