cookie what type of VM's do you use? Generally the slow writes is not a real problem but on a couple of our APP servers (SQL databases) it is starting to cause problems, the main one is that it is so much slower than a physical box. I have started testing iSCSI SR's and while the read speeds are generally slower than NFS the writes are at least twice as fast, untill like you mentioned, during busy periods speeds basically halve.
Ric_ have you had a chance to test your system?