For some reasons, this posting always delayed and I don't see it so I have to repost the whole process :smileysad: see below almost same info:
If you only have 2 hosts and if the VMs aren't critical I would use the standard or Advance version to save some money but if you want you may have to contact VMware Support on license question for free. For the features you wanted, the Enterprise or Enterprise Plus would do it but comes with a price for high end features. I'm wondering if Andrew Kutz has seperate plugin for vSphere standard/advance version for public use or its part of VMware asset now.
iSCSI configuration best practices is depends on your network infrastructure and all requires multiple paths to iSCSI targets and switches need to stack them up or two seperate stacks to prevent downtime during firmware upgrade. Dell Equallogic PS series are pretty solid and great iSCSI solution along with EMC, Netapp, IBM, Lefthand Network, Datacore etc..if you want some free solution I would look at Openfiler, FreeNAS, Starwind, StorMagic, Xtravirt VSA these are pretty good for small environment like yours. Each vendors have created best practices guide how to implement with virtualization so logon and read for details.
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Regards,
Stefan Nguyen
VMware vExpert 2009
iGeek Systems Inc.
VMware, Citrix, Microsoft Consultant