What is the Holy Grail? Depends on who you ask. Some may think that it’s the object orientated “Ruby on Rails” but others still use functional coding. There’s room for everyone.
This combination of Smarty, PHP and Ajax is interesting. There are a few links in the comments to other PHP toolkits including PHP on Trax which is based on the same idea as the previously mentioned Rails project.
Must study and try out later.
Also check out phpcake.org