I think it depends on how big your environment is, how flexible you want to be and how much your environment will grow. For my datacenters I have chosen to enable EVC and set all blades to the Westmere level regardless of their real possible CPU level. Our environment has around 150 blades and we're constantly growing. We have many small clusters because of Microsoft licensing issues and I need to be very flexible when moving VMs. I don't want my host CPU to be a limiting factor when moving VMs around. When buying new blades I don't have to worry getting the same CPU type since most suppliers can only deliver the exact same hardware for a couple of months, but certainly not longer then 1 year.
From a technical point of view, I have had a discussion on this with Frank Denneman and he explained that the performance loss because of enabling EVC is maybe like 2-3%. Also, many new CPU features are not used by VMs anyway. So, from a technical point of view I see no reason to not enable EVC.
Also read this: http://frankdenneman.nl/2010/12/14/enhanced-vmotion-compatibility/