VMware introduced the paravirtual SCSI (PVSCSI) diskcontroller which is available for virtual machines. In this knowledgebase article the best practise is given:
PVSCSI is best for workloads that drive more than 2000 IOPS and 8 outstanding I/Os.
LSI Logic is best for workloads that drive lower I/O rates and fewer outstanding I/Os.
A technical explanation can be found at the Pivot Point blog