If you are like me, then you want to use network booting for everything, especially installs. PXE booting the VMware installer with pxelinux is much easier than I thought it would be. First, copy the entire contents of the installer CD to your tftp directory. I copied mine to /tftpboot/esxi/3.5.
Now, open your pxelinux.cfg/default. Add this entry, changing the path to each of the components to coincide with where you placed the files within your tftp directory.
label esx35i kernel esxi/3.5/mboot.c32 append esxi/3.5/vmkernel.gz --- esxi/3.5/binmod.tgz --- esxi/3.5/ienviron.tgz --- \ esxi/3.5/cim.tgz --- esxi/3.5/oem.tgz --- esxi/3.5/license.tgz --- esxi/3.5/install.tgz
That's all you have to do.
You may also want to look at the post on PXE booting and kickstarting the ESX installer.

Ok... But have you sorted out a way, yet, to do more than just PXE boot? That is, can you do the equivalent of an unattended JumpStart/Kickstart?
Let me do a little research and I will make a post on this. ESX does support Kickstart, as it is a Red Hat derivative.