As always, Andrew beat me on this one too. Jose Barreto, he's technical evangelist in the storage team, posted a blog entry about "Storage options for Windows Server 2008's Hyper-V." Very nice, very complete.
- Exposing storage to the host
- VHD or offline disk on the host
- IDE or SCSI on the guest
- iSCSI directly to guests
- Moving disks between hosts
But that's not all, he also posts a few tables:
"Since there are lots of different choices and options, I put together a few tables describing the scenarios. They will help you verify the many options you have and what features are available in each scenario."
Definitely something for newbies and experts as well.