Here's how I have it. Nvidia uses the term teaming only to say the Gigabit interfaces are compatible with the IEEE 802.3ad, which is a standard called Link Aggregation Control Protocol. This means, if the equipment on both sides of the links are 802.3ad compatible, you may configure them as a Port-Channel.
So, for those of you that think it's awesome, I sure hope you have a smart switch or an advanced router. This feature is useless for 99% of the people. I use this feature on my server and have it setup with Quad Gigabit interfaces, which are connected to a Netgear GS724T switch. This is not a regular consumer switch, it is considered a "Managed" switch because it is configurable with different parameters such as LACP, which has to be configured manually on the switch. Only once have your server and switch both been configured as LACP will you have a full Link Aggregation.
Some of you may think that it is faster with 2 interfaces plugged to a regular SOHO router, but this is not the case. If you have setup LACP correctly, your connection would show up as 200 Mbps, 2 Gbps or more.
Now that my server has 4 Gbps, to take advantage of this fully, I have setup some computers with LACP as well. I have 2 computers with Dual Gigabit interfaces setup properly. With this setup, I have plenty of bandwidth to have both computers connected to the server at full capacity at the same time.
Now, what are you gonna do with 4 Gpbs of bandwidth? Maybe some file transfer?
Can your hard drive even handle that speed? The Average hard drive will be between 50 and 100 Mbps. To circumvent this issue, your server must have a RAID Array, to be able to bundle hard drives together for maximum performance. This has to be setup pretty much the same way as LACP, everything has to be compatible.
I guess if you didn't want to read all that, a good summary would be, if you don't know what teaming is or does, you don't need it.
Here is an example of a properly configured Dual Gigabit interface using Teaming :