If you review Microsoft BizTalk Hyper-V Guide you can get a rough idea about throughput and latency of BizTalk solutions under Hyper-V.

Throughput of the BizTalk solution in virtual environment is roughly 29% lower than the throughput attainable on physical hardware. If you place the SQL Server databases used in the BizTalk environment on Hyper-V virtual machines as well, throughput of the BizTalk solution will drop 12% more.

Latency of the BizTalk solution under Hyper-V is roughly 10% lower than the latency attainable on physical hardware. With the virtualized SQL Server databases latency of the BizTalk solution will go additional 15% down.

According to that guide there is generally a trade-off in BizTalk systems between throughput and latency. Higher throughput typically equates to increased latency but it is possible that the BizTalk Server solution running on virtual machines will actually provide improved latency as compared to the BizTalk Server solution running on physical hardware just because it is not feasible to reach such throughput on virtual machines.

So it seems this scenario with Hyper-V in production environment should be considered in situations when hardware cost is of first consideration and we don’t have very tough  performance and latency requirements.