Good news here, Cisco released an updated nfnic driver last week, 4.0.0.35 as part of the UCS Blade Software 4.0.4 package.  You can find it in the VMware Driver ISO here: https://software.cisco.com/download/home/283853163/type/283853158/release/4.0(...

I know this was a post from a while back, but figured I'd reply for you. Looks like there is a known issue with the nfnic driver that you can't adjust the queue depth and it's default is now 32. https://bst.cloudapps.cisco.com/bugsearch/bug/CSCvo0908...