'Think of it:
A logical volume is a single point of failure.
When you put everything on only one single logical volume and this volume crashes, your database is gone.
Need more arguments?
Don't think so.
Senior Oracle DBA
But, I think you are missing the point: it is all virtual and logical, so, how can there be a difference of a single logical volume failing verses the entire VM?
From original posting: "My question is with regards to layout and configuration for best performance."