Update 12/12/2011 - OpenManage Server Assistant now fully supports ESXi 5.0. Read more at on the Dell TechCenter page about OMSA support on ESXi 5.0.

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The Dell OpenManage team makes every effort possible to support the latest versions of hypervisors and operating systems when they release. However, VMware’s release of ESXi 5 did not align with any of the Dell OpenManage release cycles. Since Dell OpenManage build and test cycles did not align with VMware’s cycles, Dell is not able to offer a fully supported version of Dell OpenManage for ESXi 5 at this time (initially published on 08/26/2011). Dell is working a fully supported release for ESXi and will provide details as they become available.

For those customers who wish to use the current version of Dell OpenManage 6.5 with ESXi 5, Dell is providing the following document which covers many of the new features, as well as a few caveats are associated with it. Please note that this document is for informational purpose only. The content is provided “as is” and without express or implied warranties of any kind.

Dell uses VMware's VIB mechanism to load Dell OpenManage Server Administrator agent in ESXi.
Click here to download the VIB for OMSA 6.5

For continuing updates on ESXi 5.0 support, check the Dell TechCenter page that outlines Dell support of OpenManage on ESXi 5.0.