I have a question regarding this particular option in the config file. As I understand it, this disables networking entirely, so mysqld doesn't listen on any port on any interface, just via sockets/pipes. Correct so far?

If I have a database on a local machine, and want to be able to access it from php scripts on a webserver on that same machine (say, phpmyadmin, or from php in my web pages)... will that work, or do I have to enable networking? Will php be able to 'find' mysqld if it isn't listening on a network port?