Hi Richard,
Since you are referring to it as FPP, I am assuming you have read my papers and seen the videos on FPP. There is no voodoo there, no slight of hand I promise you. I achieve nearly line rate with the VF's.
However performance depends on a great many factors. First I see that you are not using the lastest VF driver - always suggest using the latest and greatest.
What kind of traffic are you sending? What are the packet sizes, are they going through a switch? How many VF's are you running, are they running concurrently? Is this VF to VF traffic on the same system? If so are the VF assigned to the same PF? What OS are you using?
If you can provide some more information I am confident we can get to the bottom of this.
thanx,
Patrick