Crisco 1000v and IBM 5000v

IBM 5000v adds the following features: Manageability - Telnet, SSH, SNMP, TACACS+, RADIUS, Industry Standard CLI
Advanced networking features - L2-L4 ACLs, Static and Dynamic port aggregation, PVLAN, QoS, EVB (IEEE 802.1Qbg)
Network troubleshooting - SPAN, ERSPAN, sFlow, Syslog, VM network statistics
http://kb.vmware.com/selfservice/microsites/search.do?language=en_US&cmd=displayKC&externalId=2009685

Software implementation of Cisco Nexus switch, details: http://www.vmware.com/products/cisco-nexus-1000V/overview.html