Yes indeed p5wizard, no point in etherchannel for NIM on the same MS, just add a virtual ethernet to the lpars, also handy should the LAN go down or for inter partition comms.
What would a mksysb, or a new, NIM install take over the hypervisor, about 5 minutes I would think. Even a huge LA etherchannel would only save you a matter of seconds - if it could work.