This is interesting ...Reason being i have been working on it for quite some time(not on 2008/05,though). The vnics and the etherstubs created would persist after a reboot. However ,getting back to your question of "etherstub creation failed: object already exists".
There is an entry made in /etc/dladm/datalink.conf for all the vnics and etherstubs generated .All you need to do is to remove the entry for which you want to re-configure and your good to go. I also faced this issue sometime ago ,but somehow everything is holding up now :) Regards Shampavman blogs.sun.com/sham -- This message posted from opensolaris.org