Cisco has created a good PowerPoint slide deck on how to configure the Cisco Nexus 1000v with the HP Virtual Connect Flex-10 blade interconnect. You can download the slides here. They also created a video which you can see here.
Over the coming months I’ll be working integrating both technologies with VMware vSphere 4.0. So you can count on more posts in the future on this topic.
Oh, and in case you didn’t know HP sells 1Gb copper SFP modules for their Flex-10 10Gb interconnect. So you aren’t required to have an upstream 10Gb switch. They don’t make this too clear in the QuickSpecs, but they do have a 1Gb RJ-45 SFP buried document that you can purchase.
Update: Cisco pulled the slides from the original link. But, Cisco has uploaded an even newer version to the VMware community forums here. So check that out..much cleaner presentation than the older version.