>Would this allow me
>to more easilly transfer it to faster hardware in the future?

Sure.

>Or would running as a guest seriously hurt disk i/o?

Depends on what you use for IO :) It's not impossible to replace the physical
iron with a virtualized iron and config that's faster.

What do you have available, 10g eth for example? That will dictate the
likely success.

I had a few platforms exporting lvm backed block devices (and iscsi once)
and the differences between a non BBUWC LSI card on sata's compared to an
HP P800 no SAS was like 10:1, and a P800 is by no means a screamer but it moves
an exchange server, sql, and a few other vm's along fast.

You might also compose the raid array appropriately for best results. Search 
here
or the iet list for Ross Walkers suggestions, I have used his advice with good
success.

jlc
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