I have some questions regarding iSCSI and IP.
Howdy Ricnob,
I'll take a stab at this:
1. Yes, and, unless you have a NIC that does iSCSI offload your CPU is doing all that emulation for you so leave free processing power to do so.
2. Not certain what you mean by "FC Controller." I'm assuming you're referring to FC zones used to manage FC hba visibility. You can use an iSNS management server/device to do this in an iSCSI environment. Alternately, most storage devices allow whitelisting as an access limiter.
3. The answer to this is: it depends.
It depends on the storage device you're using, and the configuration of said device. With only one IP available I'm guessing the SAN is configured to handle nic failure on the SAN side. So while you see only one IP there's actually multiple nics in the storage array in an active/active configuration answering to that IP. The way this is done varies based on network and storage hardware.
tl;dr - this is really a question for your SAN and/or network administrator(s). If you are only talking to one nic on the storage array then your VMWare MPIO is wasted.
Note that an active/passive setup on the storage side = talking to one nic. If that's the case you'll want to change to a design that allows the use of the second nic (i.e. active/active or a second IP.)
Direct your SAN admin to http://www.vmware.com/pdf/vi3_35/esx_3/r35/vi3_35_25_iscsi_san_cfg.pdf for 3.5 or http://pubs.vmware.com/vsp40_i/wwhelp/wwhimpl/js/html/wwhelp.htm#href=iscsi_san_config/c_using_esx_e... for 4.0