Core/socket configuration for Dual Xeons?

You have two sockets, two phy cpu's, right? Then you must configure it so:

VM A - I just set "Sockets" to "2" and have "Cores" as "8"
VM B - I just set "Sockets" to "2" and have "Cores" as "8"

Also, I want both of the VMs to be treated equally, so do I still need to configure "CPU Units" if that's the case?
You can set 400000 Units to each VM. You can also set 500000 Units to each VM. Test it, but think 400000 is saver.