Hello,
By installing each physical NIC adapter on the ESX you will automaticaly get a vSwitch attached to.
Not always you need to create them yourself.
By 3 physical NICs you have 3 vSwitch.
Yes you created three vSwitches.
I am not sure if all vSwitches are really isolated from each other, as all of the are running on the vSwitch Layer.
Yes they are separate from each other in the vSwitch layer but from a network perspective they may not be, that depends on if you bridge between the vSwitches somewhere with a multihomed VM, bridge, router, gateway, etc. Or if the physical side has some bridging.
Note this vSwitches also have no redundancy.
Best regards,
Edward L. Haletky, author of the forthcoming 'VMWare ESX Server in the Enterprise: Planning and Securing Virtualization Servers', publishing January 2008, (c) 2008 Pearson Education. Available on Rough Cuts at
http://safari.informit.com/9780132302074