Hyper-V Network Configuration

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I have a Windows Server 2008 server running Hyper-V. In the 'Network Connections' of the host system I have my two physical network cards listed and I also have a 'Microsoft Virtual Network Switch Adapter.' This adapter and the physical network card that we are using are currently configured using the same static IP address, gateway, and so on. I know that these two adapters are bound so should they have the same IP address?
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Commented:
No.
Only virtual adapter has to have real IP bound.
Physical adapter has bindings to virtual switch only.

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Commented:
Ok thanks for that answer. So I am guessing that you can have multiple virtual switches bind to one physical NIC? Does the host server use the virtual switch as well? I only created the virtual switch for the Virtual machines I was not intending on using it for the host system. What I am trying to achieve is to have our DHCP server on the host server and then other Virtual Machines installed as well. Thanks.  
Commented:
Yes you can but usually this is not very useful.
Your host server uses same switch (it's actually virtualized in some meanings).

If you like to use virtual network for your machines and host only (without access to your entire network) you should use "Internal" network type. It connects your host and virtual machines.
Take care when you are deploing own DHCP. If it's accidentaly published to your LAN it can make some trouble...

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