@bsinha: it all depends on your application and your infrastructure and other overheads. Most applications don’t do 4kB writes, the Windows SMB server does everything asynchronous for example. The question is what is your application “doing”, what load are you expecting across your servers (you’re probably not having 3 servers to run 1 VM) and what is that combined access pattern.
You have theoretical maximums baked into your setup, you have a worst case scenario minimum of 8k IOPS and a potential of going to a bit over 100k in the right circumstances with multiple clients having deep queues.