IBM and VMware recently released a new performance analysis of SAP NetWeaver 7.01 and ERP 6.0 on Windows Server 2008 on vSphere 4.0 on a System x 3850 M2.
The IBM machine, equipped with four 6-way Intel Xeon X7460 CPUs @ 2.66GHz and 128GB RAM, executed up to 12 virtual machines (each with 2 vCPUs), in different scenarios with different virtual hardware configurations.
The benchmark shows that this system supports 8 times more users than a single 2 vCPUs virtual machine.