I am amazed at the speed of our SMP7.1 console, my previous implementation for my old company's console performance was dog slow, and down right irritating. Like you, my old company's cmdb was hosted in a VM.
This is what I have setup and it has been running super.
1) SMP on a physical (although I think this can be Virtualized)
2) CMDB is on physical (i think this is a big factor)
My winning configuration:
1) Creating IIS pools is a must!!!
2) HighTower's SQL settings, NTLM (configuration is debatable)
3) be on on the latest version.
4) Create a Schedule to defrage your SMP daily!! (do it in the evenings)
5) Create a schedule to defrag and reindex your sql server daily!! (evenings)
6) run repair every 6 months or so.
7) if you can put your SQL on physical, if you can't virtualize your smp and host your cmdb on a physical.