With the amount of ESX hosts you have I would recommend build a SQL 2005 server with cluster for redundancy purposes. Make sure look at the database size and log size because those tends to expand really fast and if you have SQL configured to auto expand, log shipping and truncate that wouldn't be any problems. You also want to automate organize your indexes so your database perform smoother and better.
Use that database calculator and plug in your ESX hosts, VC, VMs and then give 30% extra database size in case.