Thanks to DukeNuke for the suggestion of dladm before. I was able to upgrade my machine to Solaris 10. I am checking out the sue of dladm, but I am a bit confused. In order to team 2 NIC ports together on my qud ethernet card do I just do this:
dladm create aggr -d ce0 -d ce1 key

Do I need to do anything else like a new hostname or hosts file? Once I do that, I should be able to unplug either ce0 or ce1 and the network conenction will continue? Will this survive a reboot?

I hope that your 'key' is an integer. Regarding your other questions:

You do not need a new hostname. You do need changes in the /etc/hosts and /etc/hostname.whatever file.

You should be able to unplug ce0/1 and have the network work - I have never used it btw.

This will survive a reboot (the man page says so).

You might also want to go through this link for some more info.