Licensing

3 editions of vCenter Server:
VMware vCenter server for Essentials (bundled with kits)
VMware vCenter Server Foundation (up to 3 vSphere hosts)
VMware vCenter Server Standard (limited only by sizing limits; includes vCenter Orchstrator)

3 editions of vSphere
vSphere Standard Edition
vSphere Enterprise Edition
vSphere Enterprise Plus Edition

Note: version 4 had an edition called VMware vSphere Advanced.  It no longer exists, and users who purchased Advanced Edition licenses are entitled to use Enterprise Edition in vSphere 5

Physcial CPU cores and Phsycial max of 256GB of RAM limits go away in vSphere 5. However, they introduced vRAM entitlements
vRAM entitlements:
Standard: 32GB
Enterprise: 64GB
Enterprise Plus: 96 GB

These entitlements are per license.  vSphere 5 is licensed on a per-processor basis.  So, a physical server with 2 physical CPUs needs 2 licenses. There is no limit on the number of cores or the amount of RAM that can be physically installed in the server. If you use 2 licenses of Enterprise Plus, you get a vRAM entitlement of 192 GB of RAM.
vRAM entitlements can be pooled across all the hosts being managed by one vCenter server
basic idea is to help organizations move closer to usage-based cost and chargeback models that are more typical of cloud computing or IaaS models.

Memorize the table on pp 18-19 on vRAM entitlement, vCPUs per VM, and what functions are included in each product edition.

All editions of vSphere 5 include support for thin provisioning, vSphere Update Manager, and storage APIs for Data Protection.

On all editions except Essentials, VMware requires at least one year of Support to be purchased.
Essentials kits are all-in-one solutions for small environments (up to 3 hosts with 2 CPUs each and a 32GB RAM entitlement)

You can't buy Essentials kids on a per-CPU basis; they are bundled solutions for three servers

You can buy Acceleration Kits as well. (allows customers an easier way to purchase necessary licenses in one step

**Note: I am aware that VMware has ditched its vRAM licensing as of August 27, 2012.  My notes are based on the book.