It will be an all-flash array. Intel XL710 on the iSCSI target and x520 mezzanine cards on the initiators, which are dell blades. 4 40 GbE twinax links going into a pair of Force10 blade switches. no other traffic on this network.
no DAS option, not interested in infiniband or FC and there just aren't enough write-ups about tons of mixed-workload VMs on 10/40 GbE iSCSI with any hard numbers to look at.
I'm sure it will perform great for sequential i/o, but here and there you might find a MS SQL or MySQL VM. A friend tells me this would perform horribly with SQL and Exchange.
Basically, I am looking for the intel Fortville version of this document:
http://www.chelsio.com/wp-content/uploads/2013/09/T5_iSCSI_Brief.pdf
I doubt you're going to have a lot of luck finding benchmarks for specific equipment, unless you get it from the manufacturer - but the NICs are only one link in the chain anyway.
Most of the information I've found comparing iSCSI to FC directly (on similar hardware, same workloads, etc.) has come from VMware whitepapers. Usually it's the same story - iSCSI is a higher latency, not awful, overall IOPS is close to even.
Example (older PDF but there's lots of 'em on vmware.com, you get the idea.): http://www.vmware.com/files/pdf/vsphere_perf_exchange-storage-protocols.pdf
Is your friend over 30? "Horrible" is probably overstating the case, but that would have been accurate in, like, 2005.