if you have multiple hosts... and shares that datastore you can use SIOC and disk shares to prioritize the IOPS but u need ENT+ license..
else you can use normal disk shares..that will ensure critical vm will get enough..weightage..
refer my blog.. where i saw a real benifit with my client..
then its all depend..upon how to setup the storage.. what is the storage/spindles... nfs/iscsi/san etc.. and work load characterisation etc.. so there is no one answer.. give more details abt your environment...