When i ping my ESX hosts i get time=1, time=5 from my experience this is not good, ive got a IBM bladecentre with internal cisco switches, all GB, any idea where to start looking??
You haven't really described your network config, you might start with this doc...
Networking Scenarios & Troubleshooting - http://download3.vmware.com/vmworld/2006/tac9689-b.pdf
See this post :
3.0.2 Update 1 fixed the issue