Hi -
We actually ended up with a physical MSCS cluster for MaxDB at the database level. And at the application server level, we have two VM's with IIS and Content Server installed on each being load balanced by an F5. We don't have true HA at the application server level, but in case one of the application servers goes down we can temporarily use the other available application server until the other comes up. Using VM's at the application level makes the recovery/build process easier if needed.
Avi