Hi ,
May be helpful.
LUN
A logical unit number (LUN) is a unique identifier used to designate individual or collections of hard disk devices for address by a protocol associated with a SCSI, iSCSI, Fibre Channel (FC) or similar interface. LUNs are central to the management of block storage arrays shared over a storage area network (SAN).
Virtual Datastore
A Datastore, as it is used by VMWare, is a storage container for files.The datastore could be on a local server hard drive or across the network on a FC or iSCSI SAN. Inside the datastore, you will find the virtual machine, VM disks,VM configuration, and any other files you place i the datastore (such as ISO files to install a VM).