Ok that's great. Thanks for the info, I think I understand.
I just tested failover using the default NIC teaming setting on the vswitch ("Route based on the originating virtual port ID") and there was only a single ping packet lost to one of the VMs.
All the VMs will have a single IP address/network adaptor, so presumably if all that traffic is only going through a single physical NIC then I won't ever get the benefit of doubled bandwidth through link aggregation?
At the moment I have a single vswitch with 4 vmnics. Both Management and VM Networks share the vswitch.
How could I re-configure it to failover between 2 different pairs of ports?
Cheers, B