I think it is ok for less than 100k page views/day,
by enabling wal I think you can handle 1 million page views daily

http://www.sqlite.org/whentouse.html

Generally speaking, any site that gets fewer than 100K hits/day should work
fine with SQLite.
The 100K hits/day figure is a conservative estimate, not a hard upper
bound.
SQLite has been demonstrated to work with 10 times that amount of traffic.

the main cons was that sqlite writes block reads, but that is solved by
enabling WAL
http://www.youtube.com/watch?v=hRu86mcRk5Y

in web2py I just use that

db = DAL('sqlite://storage.sqlite', migrate=True)
try:
    db.executesql("PRAGMA journal_mode=WAL;")
except:
    pass

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