dell doesn't need fcp switches
dell didn't need to buy brocade anymore than HP or HDS or EMC or whomever did. Brocade's fibre channel business becomes pretty risky IMO if someone like Dell IBM or HP bought them since the rest wouldn't want to be relying on their main competitor for that business. Just how IBM and HP have distanced themselves from Cisco since they entered the server market.
ethernet on the other hand, that is obviously a bigger market. myself I called this last year after IBM bought BNT. I guess the OEM relationship with juniper wasn't going as well as Dell would of liked
And the other Dell stuff (OEM'd SMC ?? or something) is really poor. I've heard force10 is far from perfect but a good fit for them IMO.
I don't expect to see 40gig equallogic anytime soon, not as long as equallogic can't span more than 1 shelf at a time.
It wouldn't surprise me too much if Dell went after a load balancing company like A10 or something next, load balancers are pretty important for this cloud stuff.