Comment 41 for bug 890475

I installed Fedora 16 on this system with a 3.1.1-1.fc16.x86_64 kernel and see dropped packets there as well:
  $ ifconfig bond0
  bond0 Link encap:Ethernet HWaddr 00:1B:21:D3:F6:0A
            inet addr:10.191.62.2 Bcast:10.191.62.255 Mask:255.255.255.0
            inet6 addr: fe80::21b:21ff:fed3:f60a/64 Scope:Link
            UP BROADCAST RUNNING MASTER MULTICAST MTU:1500 Metric:1
            RX packets:175 errors:0 dropped:34 overruns:0 frame:0
            TX packets:157 errors:0 dropped:0 overruns:0 carrier:0
            collisions:0 txqueuelen:0
            RX bytes:13089 (12.7 KiB) TX bytes:19016 (18.5 KiB)

The rate of dropped packets was the same as the 3.0.0-12-server kernel after I set lacp_rate=fast.