Kristoffer,
Sorry for the delay - took a few days off.
In the paper written on this topic, I believe we recommend not doing teaming at the PF level. For load balancing, you will definately want to load balance between VF's from different PF's (or even different physical NICs if you like). Load balancing between VF's from the same PF won't do you any good, because it would end up using the same physical port (PF).
Does that help?
- Patrick