Hi Wade,
I realize that no-one has responded to this query, and thought I'd pipe in (albeit late). We are using a product called Capacity Analyzer sold by VKernel (http://www.vkernel.com). The one thing that I noted is that it uses Memory Consumed, as opposed to Memory Active to rate resource utilizations at the VM & host levels. The host levels in fact, only reflect the percentage of usage based on the total guest VM usage and how it relates to the host itself. Using these (host graphs) against the VIC graphs we were able to also see whether any memory issues were heap related or tied to some other host level memory issues.
Using Memory Consumed (and you will find arguments all over this community) was good for us from the constraint perspective. It represents all the memory being tied up by the VMs, and is usually not limited to only showing what memory pages are active.
For us though, it was mostly CPU & CPU Ready that was our chief constraints. We had over-allocated vCPU to our VMs, and they were causing processor contentions within the host. I'd say check out the vkernel tools () especially the Capacity Analyzer as well as the Optimization Pack.