good question, don't know the answer. If this damned Quadro issue wasn't giving me such a headache, I'd try it out, myself. Machine that's giving me headache is 2x 5560's on an X8DA3 board.
Sadly Anandtech hasn't gone into great detail of performance with E5500 servers and ESX4, however a review quick to hand reveals quite a difference when testing on ESX3.5.