The multimedia performance issues in my previous post about Hyper-V performance turned out to be a display driver issue. With my deal-breaking "must be able to watch Burn Notice" requirement now met, I poked around with Hyper-V some more last night. The Hyper-V Manager interface is rather sexy, absolutely a winner compared to VMware Server's web-based atrocity and more than one snapshot is a bonus. However I still don't see much benefit to using it over VMware Workstation for a development workstation, other than the fact that it's free.
Both perform well, both have good snapshot tree management, both support VLANs ("Team networks" in VMware). Biggest frustration now with Hyper-V (other than not being able to connect to wireless NIC) is the lack of support for widescreen resolutions on the console sessions. With all the window decorations, taskbar, status bar, toolbar, etc. taking up so much space, not having widescreen means I'm stuck at 800x600 for all my Hyper-V VMs. 1024x768 if I don't mind turning off the toolbar and hiding some of the statusbar behind the windows taskbar. VMware Workstation has very nice resizing functionality that allows you to just expand the window to whatever width you want and the desktop will resize to that resolution.
This may seem like a feature that's only a bother for IT people trying to use Hyper-V as a workstation solution, but I imagine it has to be a bit of a pain in the ass for administrators running Hyper-V Manager from their workstation with widescreen monitors.