I set up a test environment way back to be able to test the higher-end features of VMware vSphere 4 as well as ESX 3.5.
By setting up a physical level cluster for the ESX hosts themselves, I was able to perform vMotion and Storage vMotion migrations with no problems.
I used 3 different ESX hosts. One was a Dell 2900 server; the other two were my own whitebox creations using nVidia 680i motherboards as the core. You can find my recommendation for the 680i use on the VMware site here: http://communities.vmware.com/docs/DOC-11710
