The use of IP Storage for VM swap files is now allowed under VMware Best Practices. At one point there were published recommendations not to place the VM's swap files on NFS. This recommendation is no longer VMware's best practice. Of course, best practices recommend designs that minimize VM swapping, including proper memory allocations, but VMware has removed the recommendation of not placing VM swap files on IP-based storage, and it is now an acceptable practice to locate VM's swap files of either NFS or iSCSI-based storage, as it would be with Fibre-Channel or Direct-Attached Storage (DAS). Bob Slovick, thanks for the update.
Do not place swap space on other storage. Select no for NIC teaming failback. Link Aggregation Settings. Match link aggregation on both sides of link ...
inet-gw.maphis.homeip.net/training/VMWare/VMWorld-2008/TA2784_Locked_Loaded_V3.ppt - Similar pages
Slide 38
(I would be delighted if the no-vmswap-on-NFS recommendation was eliminated...)