I believe that it all depends on what kind of communication you have on your vms.
Since the mgmt. and the vmotion communication is mostly static between specific hosts and as such the IP hash is pointless the weight is on the type of communication you have on your VM.
If you run a web server with multiple random connection on it from random clients then IP hash is better.
If you have a limited number of connections towards your vms then I would suggest lbt.