The question of whether and how to replace DRS is really a part of the question of what is in the virtualization platform and what is not. Clearly the virtualization platform consists of much more than the hypervisor. VMware would like to define the virtualization platform as all of vSphere Enterprise Plus, and then suggest that vCloud Director and its own performance management solutions are logical extensions of that platform. Enterprises need to be careful about where they draw their own lines in this regard. As VMware is a clear market leader both in terms of product functionality and enterprise installations, VMware needs to be given full credit for the quality of vSphere and its success. However full credit does not need to imply that one is 100% locked in to VMware solution as there is room to pursue third party IT as a Service, Performance Management, and Service Assurance strategies as well as replace/augment components in vSphere.
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vCloud Director is a good start at an IT as a Service platform for enterprises looking for a VMware specific solution that does not integrate with existing physical or non-VMware provisioning mechanisms. Enterprises looking for IT as a Service solutions that span multiple virtualization platforms and that span provisioning across virtual and physical resources should look at alternatives from Platform Computing DynamicOps, newScale, Embotics, Euclyptus, ManageIQ and rPath as these vendors all offer heterogeneous enterprise class IT as a Service platforms.