I need a quick overview to figure out if it's worth switching from PHP to ruby. Please list some differences you know. I'm just talking about PHP and Ruby, not Ruby on Rails (that would be a bad comparison).
Read this article, you might find something useful:
http://www.cmswire.com/cms/industry-news/php-vs-java-vs-ruby-000887.php
It's a highly subjective question to ask. Having worked with both, I can give you my observations.
Overall I would say that PHP is a more stable and mature environment than Ruby is. There are more available libraries, and they have had time to stabilise. It's also a lot easier to configure and deploy, because there are generally working packages for your platform, and because you don't have to make a lot of choices upfront.
As a language, both are similar in that they are easy to start using, but hard to master completely. PHP is a bit more traditional, which may make it easier if you already know Java/C/etc. On the other hand, PHP is internally much more inconsistent than Ruby. I think it is safe to say that Ruby is aesthetically better off than PHP; It's in many ways a very elegant language. You can't really say that about PHP. On the other hand, PHP is much more by face-value. In Ruby you can - and people often do - write some truly incomprehensible code.
My experience having moved from a java / PHP background to Ruby (using Rails) I found Ruby almost incomprehensible. I definitely believe it's more powerful, but many of the Ruby frameworks work concepts such as metaprogramming and closures (blocks, procs, lambdas etc). Learning PHP from a Java / C++ / C background was a lot easier than learning Ruby subsequently.
It's worth it, but expect exasperation initially.
Ruby has closures and powerful meta programming facilities. PHP doesn't. Jruby also gives you a lot of things you don't have in php. For example, you can use any java library directly in jruby, and you can deploy ruby (rails as well) on any typical java setup.
Also, check out heroku for an awesome hosting option for ruby.
I advice you not to switch to Ruby. If you want to leave PHP and start programming only in Ruby, than it's not a good idea. For now, it is worth to write in PHP, beacause many web (and not only) applications are written using PHP, while far less in Ruby. I'm not saying that it is not worth to learn it, because Ruby is very powerful and gives lot of joy.
The main difference: that, what takes you ie 10 lines of code in PHP, in Ruby would take 2. But it's also this times slower, beceause that what makes this language so beautiful makes it also slower.
Of cource it depends on what do you want to do with knowledge of these languages.
@jshen PHP since 5.3 has closures, too.
One big point that many of the other posters have neglected to mention is that deploying PHP is dead simple. Most webhosts provide PHP by default, which means that deployment is a simple matter of copying some files to a server. Ruby, by contrast, would require you to either set up some sort of application server (the Rails way) or set up CGI (does anyone do that anymore?).
Another consideration, assuming you're doing web development, is that PHP is 'web native' - it expects to be dealing with HTTP requests & responses. In pretty much every other language, you need to manually set this up.
Personally, I don't care much for the PHP language, in the abstract, but the language is a good fit for the web development niche & mod_php is really good at what it does (as well as being nearly ubiquitous).