Hello Gheywood,
Actually, dedicating two nics (teamed) for Vmotion redundancy is the best choice if possible. If you cannot do that, then you should not put your VMotion traffic on the same NIC team as your iSCSI traffic. You should have dedicated NICs / Network (physically separate if possible) for iSCSI.
If you must combine a VMotion port group with another port group, then the Service Console (or management network in ESXi's case) is usually a good choice.
Unless you are using Converged Network Adapters (CNAs) and 10Gbe, it is not uncommmon to see 10 NICs in an ESX host that utilizes IP Storage. I hope this helps.
Don't forget to mark this answer "correct" or "helpful" if you found it useful (you'll get points too).
Regards,
Harley Stagner
VCP3, VCP4