Microsoft iSCSI target does not support HA so it's always single point of failure. You can put it into failover cluster but it requres external shared storage (SAS or FC). Resulting setup is VERY expensive and very slow. Here's an example:
Microsoft iSCSI Target Cluster – Building Walkthrough « TechOnTip Weblog
(check how long I/O path is, and you can actually REMOVE microsoft keeping switched fabric SAS only)
Comparing free StarWind and MS, StarWind has caching and dedupe and MS has none:
StarWind iSCSI vs. Microsoft iSCSI - Part 1
-nismo