VMware has released their hardening guide for vSphere 4.0.
There is more than 100 guidelines to choose from, divided between
- Introduction
- Virtual Machines
- Host (both ESXi and ESX)
- vNetwork
- vCenter
- Console OS (for ESX only)
http://blogs.vmware.com/security/2010/04/vsphere-40-hardening-guide-released.html