I like Luvit, but what makes node so awesome is people wrote evented drivers for databases and such. I'm not sure that there is a community there to do that again in Lua. Also, the openresty approach seems like an interesting way to get high performance web lua without writing evented code.
Lua is an embedded language. I don't ever see the day when Luvit will be used for a backend server in lieu of Nodejs. In general, you shouldn't ever need an evented DB driver except for perhaps sqlite.
That Lua is an "embedded" language is a strength, not a weakness: it's small enough and interoperable enough to be used in ways that most language implementations can't. The fact that it can do this while at the same time being quite a bit more powerful (and efficient) than Javascript is a marvel of design. It has yet to be fully appreciated. We're going to see a lot more Lua on the server.
Kansface, the main pros for lua(jit) are reduced memory footprint and generally superior code execution performance to js. There's also the FFI which is more sophisticated in lua(jit) than node.
So depending on the details, I think there is a strong argument for luvit over nodejs - particularly when the breadth of the nodejs ecosystem isn't required and when a stronger language implementation is required.
