Make sure that with iSCSI, that you have independent VMDK's for each volume/partition, and not a singular large VMDK with partitions within it.
There is a flaw in vmware's iSCSI implementation that only opens one iSCSI connection per VMDK. Thus you will not be able to leverage the 3 1GB iSCSI ports you have on the equallogic array.
As for RAID logic in a virtual environment, it's a moot point for most (>80%) folks... Just keep it to under 2TB LUN's, keep VMDK management based on disk activity, and do not put all SQL and Exch servers on the same LUN, do some sort of logistical balance of VM's, and you're in good shape. I'll put more time into my reasoning later today.