from my experience ...the disk latency is too high for a DB.i think you need to redesign lot of sections..for the VM..
1- Do a partition alignment for the logs/data disks - refer to my blog http://pibytes.wordpress.com/2013/01/19/partition-alignment-in-vmware-vsphere-5-a-deepdrive-part-1-2/
2- use RAID 50 for DB data and RAID 10 for redo logs.. if it is WRITE intensive... use RAID 10 for DB data
3- use PVSCSI contoller for the VM
4- use dedicated LUN for this VM.. and check there is any bottle neck in the HBA side
5- spread the LUN across the controller.. and i believe the EVA is ALUA aware and use Round robin as multipathing policy.. also in EVA i heard the mutipathing threshold you need to reduce..default is 1000 IOPS it will switch to other path. check with the HP vendor.
final question...? is there enough HDD spindles in the array... and how many VM are there... and is the IOPS required...? capacity planning is done correctly?