An error occurred while communicating with the remote host. The error code is 0x80070001

We've recently moved our websites to some new servers with Windows 2008 R2 / IIS7.5 and have started getting the following error:

Exception information: 
    Exception type: HttpException 
    Exception message: An error occurred while communicating with the remote host. The error code is 0x80070001.
   at System.Web.Hosting.IIS7WorkerRequest.RaiseCommunicationError(Int32 result, Boolean throwOnDisconnect)
   at System.Web.Hosting.IIS7WorkerRequest.ReadEntityCoreSync(Byte[] buffer, Int32 offset, Int32 size)
   at System.Web.HttpRequest.GetEntireRawContent()
   at System.Web.HttpRequest.FillInFormCollection()
   at System.Web.HttpRequest.get_Form()
   at System.Web.HttpRequest.get_HasForm()
   at System.Web.UI.Page.GetCollectionBasedOnMethod(Boolean dontReturnNull)
   at System.Web.UI.Page.DeterminePostBackMode()
   at System.Web.UI.Page.ProcessRequestMain(Boolean includeStagesBeforeAsyncPoint, Boolean includeStagesAfterAsyncPoint)

Specified method is not supported.
   at System.Web.HttpResponseStream.get_Position()
   at System.Drawing.UnsafeNativeMethods.ComStreamFromDataStream.Seek(Int64 offset, Int32 origin)

The error seems to occur pretty randomly on a number of different pages and we've not be able to reproduce it ourself.

I've look on this site and others for similar examples, but have yet to find a solutions. The common response seems to be that it's something to do with TCP Offloading and/or VMware. We're not using any virtualization, so is the only solution to turn off TCP Offloading? What would the impact of turning it off be?