I've attached my sysstat from the other night when NFS/CIFS hung up... is this what you've seen as well?
During that issue, FCP was also slow.. had some MPIO failovers happening on our AIX LPARs. But, AIX handles that just fine and at least has an alternate path through the other filer. NFS isn't so lucky.
I have a 3250+1TB PAM sitting on deck.. you'd think that the 3240+512GB PAM would be sufficient for what we do.
While I do have SATA in use for VMWare, it's not heavy hitting VMs.. it's the dormant stuff, mostly.
I'm moving a lot of it, though, to 6xDS4243x600GB-15k shelves ASAP.
I'm drinking the PAM kool-aid too but do have some measurable results primarily on our PeopleSoft DB2 databases.
I definitely wouldn't bet on SATA+PAM == FC/SAS performance.