As others have noted, various versions of PHP have issues with their garbage collectors. Of course, if you know that your version does not have such issues, you eliminate that problem. The point is, you don't know (for sure) until you write the daemon and run it through valgrind to see if the installed PHP leaks or not on any given machine. So on that hand, you may write it just to discover that what Zend thinks is fixed may might still be buggy, or you are dealing with a slightly older version of PHP or some extension. Icky.
The other problem is somewhat buggy signals. In my experience, signal handlers are not always entered correctly with PHP, especially when the signal is queued instead of merged. That may not be an issue for you, i.e. if you just need to handle SIGINT/SIGUSR1/SIGUSR2/SIGHUP.
So, I suggest:
If the daemon is simple, go ahead and use PHP. If it looks like its going to get rather complex, or allocate lots of memory, you might consider writing it in C after prototyping it in PHP.
I am a pretty die hard C person. However, I see nothing wrong with hammering out something quick using PHP (beyond the cases that I explained). I also see nothing wrong with using PHP to prototype something that may or may not be later re-written in C. For instance, handling DB stuff is going to be much simpler if you use PHP, vs managing callbacks using other interfaces in C. So in that instance, for a 'one off', you will surely get it done much faster.